South African rand holds steady as traders await domestic news

The South African rand was steady in early trade on Wednesday, holding against a softer U.S. dollar as investors stayed cautious ahead of upcoming domestic economic data. In Johannesburg, traders said they were avoiding big positions until fresh figures could shed more light on the health of Africa’s largest economy. While the dollar provided some support, the currency’s direction appeared largely driven by wait-and-see sentiment rather than a specific new development. The focus remains on local releases that could influence expectations for growth and policy, guiding where the rand may move next.