S.Africa’s rand extends losses with new inflation data on deck

South Africa’s rand extended its losses on Wednesday morning as investors awaited key inflation data, expected to release at 8:00 GMT. The new data could significantly influence the South African Reserve Bank’s (SARB) future interest rate decisions.

The rand weakened slightly against the dollar, trading at 18.4225 as of 06:49 GMT. This follows Tuesday’s decline as investors anticipate the inflation figures.

Rand Merchant Bank analysts expect trading ranges to remain steady until the data release.