South African rand flat after four straight days of gains; eyes on US payrolls data
At 0622 GMT, the rand traded at 18.1450 against the U.S. dollar , near its previous close of 18.1475.
The dollar last traded about 0.2% weaker as markets were met with confusion regarding the U.S. trade policy after U.S. President Donald Trump on Thursday suspended the 25% tariffs he imposed this week on most goods from Canada and Mexico until April 2.
Trump also threatened to impose a global regime of reciprocal tariffs on all U.S. trading partners.
ETM Analytics in a research note said that Friday could mark the fifth consecutive day of rand appreciation with the market being biased against the dollar.
Markets will look to U.S. non-farm payrolls data later on Friday for dollar direction.
"Investors will wait for the payrolls data. If it disappoints, the USD-ZAR might very well retest levels closer to the 18.0000 handle," the research note added.
Like other risk-sensitive currencies, the rand often takes cues from global drivers like U.S. policy and economic data in addition to local factors.
South Africa's net foreign reserves rose to $61.733 billion at the end of February from $61.328 billion in January, central bank data showed on Friday.
South Africa's benchmark 2030 government bond was little changed in early deals, with the yield at 9.055%.
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