JOHANNESBURG (Reuters) – The dollar slipped stronger against the dollar on Tuesday, as investors turned their attention to the Federal Reserve's interest rate decision.
At 0820 GMT, the rand was trading at 17.93 against the greenback, about 0.4% weaker than its previous close.
It last traded up about 0.2% against a basket of currencies.
The Fed will announce its interest rate decision on Wednesday, with markets expecting a 25 basis point cut, but the focus will also be on the central bank's tone on rates for the year ahead.
“A conservative tone will likely support the USD and weigh on EM (emerging market) currencies, including the ZAR,” said Andre Cilliers, Currency Strategist at TreasuryONE.
On the stock market, the Top-40 index was down about 0.9%.
South Africa's 2030 government bond was slightly weaker, with the yield up 1 basis point at 8.93%.
