South African rand little changed, focus on US inflation data next week

JOHANNESBURG, May 10 - South Afr ica's rand was little changed on Friday, ahead of U.S. inflation data next week that could hint at the future interest rate path in the world's biggest economy.The dollar index was last trading around 0.16% stronger against a basket of global currencies.

Traders will be looking toward U.S. inflation readings next week for clues about the trajectory of U.S. interest rates, with theThe rand, like most emerging market currencies, takes direction from U.S. economic data in addition to local events.Nigerian security forces have rescued students kidnapped from a university in northern Kogi state, along with other victims held by the abductors, the army and state government said on Sunday.

Source: Financial Digest (financialdigest.net)

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