South African rand gains as Israel-Iran truce lifts risk sentiment
JOHANNESBURG, June 25 (Reuters) - The South African rand gained in early trade on Wednesday as a fragile ceasefire between Israel and Iran supported risk appetite and provided relief after days of geopolitical tension.
At 0622 GMT, the rand traded at 17.7675 against the dollar , up about 0.2% on Tuesday's close.
The dollar last traded flat against a basket of currencies.
With a fairly muted domestic economic calendar, investor focus will mainly be on the ceasefire.
On Thursday, all eyes will be on the producer price index (ZAPPIY=ECI), opens new tab and the South African Reserve Bank's quarterly bulletin, which will shed light on foreign direct investment flows in Africa's most industrialised economy.
South Africa's benchmark 2035 government bond was little changed in early deals, as the yield rose 0.5 basis points to 9.955%.
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