JOHANNESBURG: South Africa’s rand firmed in early trade on Tuesday, while the dollar pared some of its losses incurred when data showed US manufacturing activity fell last month.

At 0643 GMT, the rand traded at 17.7925 against the dollar, 0.1% stronger than its previous close.

The dollar index, which measures the safe-haven currency against six major rivals, was last up 0.05% at 102.08.

The dollar had tumbled after the Institute for Supply Management (ISM) survey showed on Monday that US manufacturing activity fell to the lowest in nearly three years in March.

South African rand steady ahead of retail sales data

With no local economic data due on Tuesday, the rand is again set to take its cues from global drivers.

The government’s benchmark 2030 bond was weaker in early deals, with the yield up 2 basis points to 9.885%.