BUSINESS NEWS - South Africa's rand gained on Monday for a third straight session as fading expectations that the US Federal Reserve will hike interest rates again this year kept investors keen on emerging market currencies.
On the bourse, the benchmark Top-40 index fell 0.54% to 45,113 points, while the All-Share index was down 0.42% to 51,288 points.
At 1500 GMT the rand traded 0.62% firmer at R12.8450 per dollar, having touched a session best of R12.8200 before stalling as traders held off on large bets ahead of a speech by US central bank chair Janet Yellen.
With no major local data releases or political developments the rand looked to overseas markets for direction and found it in continued demand for high-yielding EM assets driven by further signs of subdued economic growth in the United States.
