JOHANNESBURG, Aug 6 (Reuters) - The South African rand
gained against a weaker dollar on Wednesday as traders ruminated
over last week's weaker-than-expected U.S. jobs data, while
awaiting tariff updates before Washington's deadline.
At 1451 GMT, the rand traded at 17.80 against the dollar
, roughly up 0.5% on Tuesday's close.
This week's major focus for South Africa is whether it can
negotiate a better trade pact as it faces a 30% duty on goods
exported to the U.S., the highest rate among Sub-Saharan African
countries.
The dollar last traded 0.3% weaker against a basket
of currencies as investors held back from making big bets, still
reeling over the disappointing July employment report but also
on the look out for U.S. President Donald Trump's decision on
appointments to the Federal Reserve.
Trump on Tuesday said he would soon announce a short-term
replacement for Fed Governor Adriana Kugler, who announced her
resignation on Friday, as well as his pick for the next Fed
chair.
"The USD is losing its exceptionalism and is steadily
finding itself on the defensive, allowing other currencies to
make up lost ground," ETM Analytics said in a research note.
The Johannesburg Stock Exchange's Top-40 index was
up 0.5% and the wider All-share index up 0.4%.
South Africa's benchmark 2035 government bond was
little changed as the yield rose half a basis point to 9.68%.