South African rand weakens on risk-off mood, economic data eyed
JOHANNESBURG, June 17 (Reuters) - The South African rand weakened in early trade on Tuesday, as risk sentiment remained fragile with the Israel-Iran conflict entering its fifth day.
At 0626 GMT the rand traded at 17.83 against the dollar ZAR=D3, 0.1% softer than Monday's close.
Heightened uncertainty stemming from the Middle East conflict and U.S. President Donald Trump's call to Iranians to evacuate Tehran led investors to seek safe-haven assets, dulling the appeal of the local currency.
Domestic investors will also look to consumer inflation ZACPIY=ECI and retail sales ZARET=ECI figures due on Wednesday, which may influence the South African Reserve Bank's thinking on monetary policy, though its next rate decision is not due till the end of July.
South Africa's benchmark 2035 government bond ZAR2035= was also weaker in early deals, with the yield rising 1.5 basis points to 10.155%.
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