JOHANNESBURG, July 30 (Reuters) - The South African rand

gained on Tuesday as markets waited on the outcome of a U.S.

Federal Reserve meeting on Wednesday which could give hints on

its rate-cut timeline.

At 1526 GMT, the rand traded at 18.35 against the dollar

, about 0.5% stronger than its previous close, after

tumbling against a stronger greenback on Monday.

Investors will focus on the Fed on Wednesday for insights

into the future interest rate path in the world's biggest

economy. The Fed is expected to leave rates unchanged, but

markets are betting on a cut at its September meeting.

Like other risk-sensitive currencies, the rand often takes

cues from global drivers such as U.S. monetary policy in

addition to domestic factors.

South Africa's National Treasury data earlier in the day

showed the country recorded a budget surplus of 38.55 billion

rand ($2.10 billion) in June.

On the Johannesburg Stock Exchange, the Top-40 index

closed 0.3% higher.

South Africa's benchmark 2030 government bond was

flat, with the yield at 9.505%.

($1 = 18.3529 rand)