South African rand edges higher ahead of inflation data, Fed rate decision

South Africa’s rand edged higher in early trade on Wednesday, ahead of the release of local inflation data and highly anticipated interest rate decision by the U.S. Federal Reserve.

At 0645 GMT, the risk-sensitive rand traded at 18.5000 against the dollar, 0.32% stronger than its previous close.

South African markets were closed on Tuesday on account of a public holiday.

Local investors will be looking at February inflation figures (ZACPIY=ECI) due at 0800 GMT by Statistics South Africa for clues on the health of the economy.