South African rand firms after local retail sales, US inflation data
Updates prices to reflect afternoon trade, context on US inflation and South Africa retail sales in paragraphs 4-5
JOHANNESBURG, May 15 (Reuters) -South Africa's rand held onto its gains onWednesday, after encouraging domesticretail sales figures and a U.S. inflation report.
At 1400 GMT, the rand traded at 18.3525 againstthe dollar ZAR=D3, 0.22% stronger than its previous close.
The dollar index =USD was last trading down 0.25% against a basket of currencies.
U.S. consumer prices increased less than expected in April, boosting expectations that the Federal Reserve may cut interest rates in September.
South African retail sales rose 2.3% year on year in March after decreasing by a revised 0.7% in February, Statistics South Africa figures showed.
On the stock market, the Top-40 index.JTOPI was trading 0.8% higher whilethe broader all-share .JALSH index was up 0.7%.
South Africa's benchmark 2030 government bond ZAR2030= was stronger, with the yield down 10 basispoints at 10.415%.
Reporting by Bhargav Acharya; Editing by Clarence Fernandez and Peter Graff
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