JOHANNESBURG: South Africa's rand was barely changed against the dollar on Monday and is unlikely to respond much to domestic data this week after last week's widely expected central bank decision to leave interest rates on hold.
Government bonds were also largely steady in early trade, with the yield on the shorter-dated 2015 note slipping just half a basis point to 7.75 percent while that on the 2026 bond shed one basis point to 8.905 percent.
At 0638 GMT, the rand traded a touch firmer at 6.8581 against the dollar compared with 6.8645 when markets closed in New York on Friday.
The rand should find resistance at 6.80, with a breach of that level possibly opening up 6.75, Standard Bank said in a technical note.
"However, if 6.80/dollar holds, a move back up to 6.92 if not 6.97 would be possible," it said.
"Despite the glut of South African data this week, we believe that the rand will continue tracking global risk appetite and commodity price developments."
This week will see the release of monthly money supply, credit, producer inflation and trade data, but the numbers are likely to have minimal impact on currency and debt markets now that last week's rate decision is out of the way.
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