Rand Holds Steady Amid US Treasury's Bond Buyback Boost

The South African rand held steady at 16.09 per US dollar after the US Treasury announced it would double its buybacks of longer-dated government bonds.

This move aims to improve trading conditions by buying back older 'off-the-run' bonds that can become illiquid during market selloffs.

The increased liquidity in the US bond market is expected to reduce volatility in long-term yields, making South African bonds more attractive on a risk-adjusted basis.