South Africa's rand firms slightly on upbeat risk sentiment

JOHANNESBURG: South Africa's rand firmed slightly in early trade on Tuesday as risk appetite improved after US President Donald Trump left hospital following treatment for COVID-19.

Renewed hopes of US stimulus also supported riskier currencies.

At 0620 GMT, the rand traded at 16.5700 versus the US dollar, a tad firmer than its previous close of 16.5775.

After steep losses during the onset of the COVID-19 pandemic, the rand has regained levels last seen in March, mainly thanks to improved appetite for risk.

In fixed income, the yield on the benchmark government bond due in 2030 rose a single basis point to 9.505pc in early trade.