JOHANNESBURG (Reuters) -The South African rand was flat in early trade on Friday, as investors awaited U.S. Federal Reserve Chair Jerome Powell’s speech at the annual Jackson Hole symposium that could offer fresh clues on the monetary policy path.
The rand, like other risk-sensitive currencies, often takes cues from global drivers such as U.S. policy and economic data.
At 0647 GMT, the rand traded at 17.73 against the dollar, little changed from its previous close.
Domestic investor focus next week will be on South Africa’s business cycle leading indicator, producer inflation numbers, money supply and private sector credit data, and trade balance and budget balance figures.
South Africa’s benchmark 2035 government bond was also little changed in early deals, with the yield at 9.63%.
(Reporting by Sfundo ParakozovEditing by Mark Potter)
