The rand retreated in the beginning Wednesday prior to when the US Federal Reserve’s monetary policy announcement and amid subdued investor appetite for riskier assets.

At 0650 GMT the rand was 0.2% weaker at 14.37 per dollar, having closed in Ny at 14.34.

The rand remains pressurized the way it awaits reaction on the US Federal Reserve Bank interest rates decision on Wednesday. The Fed is required to make loan rates for any eighth time since late 2015.

Investors also remain cautious following second-quarter gdp data on September 4 which showed the economy entered into an economic depression.

A statement by ratings agency Fitch on Tuesday claimed it was unlikely President Cyril Ramaphosa’s economic multi-billion-dollar turnaround plan would be enough to lift the nation’s sluggish economic rate of growth.

In fixed income, the yield on the benchmark government bond due in 2026 was up 0.5 basis points to 9.155%.

Stocks are due open higher at 0700 GMT, with the JSE securities exchange’s Top 40 Futures index up 0.44%.?