JOHANNESBURG, Feb 10 (Reuters) - South Africa's rand began the week on a stable footing against the dollar but could struggle to consolidate gains made after disappointing U.S. jobs data on Friday.
The rand
The currency strengthened beyond the key 11 level to 10.9400 on Friday after U.S. nonfarm payrolls rose by a less-than-expected 113,000 in January, before ending the session at 11.0600.
An ongoing strike in the platinum mining sector which is showing signs of becoming violent, as well as poor sentiment towards emerging markets, could keep the rand under pressure this week.
On Friday, a union shop steward was killed in a clash with police at an Anglo American Platinum (Amplats)
"While downside moves below 11.00 have been opened, we expect a sideways drift this morning and we wouldn't be surprised to see some losses as the week progresses," Rand Merchant Bank analysts wrote in a note.
The yield on the 2026
(Reporting by Tosin Sulaiman; Editing by Ed Stoddard)
((tosin.sulaiman@thomsonreuters.com)(+27 11 775 3153)(Reuters Messaging: tosin.sulaiman.thomsonreuters.com@thomsonreuters.net))
Keywords: MARKETS SAFRICA/RAND