The rand strengthened on Thursday, buoyed by a softer US dollar after disappointing economic data in the United States raised expectations of an interest rate cut by the Federal Reserve next month.
As with other risk-sensitive currencies, the rand often responds to shifts in both domestic conditions and global indicators, particularly US monetary policy and economic performance.
Analysts say the latest round of weaker US data has prompted investors to price in a growing probability of a Fed rate reduction, providing support for emerging-market currencies.
By late morning, the rand was trading at R17.11 to the US dollar.