Rand Holds Steady Ahead of Key US Inflation Data

The South African Rand traded steady in early Wednesday trade, waiting for key US inflation data to set the tone for commodity-linked currencies.

Investors are cautious ahead of the release of the US Personal Consumption Expenditures (PCE) price index for July, the Federal Reserve's preferred inflation gauge. The Dollar remains pinned in a narrow trading range against most major peers.

The Rand traded at 15.9276 against the Dollar, unchanged from its previous close, according to Adam Phillips of Umkhulu Treasury: 'The Rand is benefiting from a lower Dollar and steady to better commodity prices.'