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The rand slightly stronger

Global investors are hoping the threats of an attack on Syria will not lead to a wider conflict.

The rand was slightly stronger early on Monday as global investors hoped that US-led strikes on Syria would not escalate into a wider conflict.

At 06:28 GMT, the rand traded at 12.07 versus the dollar, around 0.1% stronger than its close on Friday.

The rand was volatile last week, see-sawing over global trade war fears and tensions between the United States and Russia over Syria. Domestic factors receded.

On Monday US stock futures firmed and oil prices fell on relief that the attack on Syria had been limited in scale.

Analysts at NKC Research said they expected the local currency to trade in a range of 11.90 to 12.15 to the dollar on Monday.

Government bonds were little changed early on Monday, with the yield on the benchmark instrument due in 2026 down 1 basis point to 8.075%. 

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