South African rand weakens against stronger dollar

JOHANNESBURG (Reuters) -South Africa’s rand fell on Tuesday as the dollar strengthened following fresh economic data, which highlighted the strength of the U.S. economy.

At 1546 GMT, the rand traded at 19.0600 against the dollar, around 0.5% weaker than its previous close.

The dollar was up more than 0.6% against a basket of global currencies.

U.S. data showed business output ticked higher in October as the manufacturing sector pulled out of a five-month contraction.

Shares on the Johannesburg Stock Exchange rose, with the blue-chip Top-40 index closing about 0.8% higher.

South Africa’s benchmark 2030 government bond was stronger, the yield down 15 basis points to 10.675%.

(Reproting by Tannur Anders and Anait Miridzhanian; Editing by Bhargav Acharya, Muralikumar Anantharaman and Alison Williams)