South African rand jumps after U.S. data maintains Fed rate cut bets
Updates prices as of 1616 GMT
JOHANNESBURG, Oct 11 (Reuters) -South Africa's rand gainedagainst the dollar on Friday after U.S. data this week helped sustain expectations for aninterest rate cut by the Federal Reserve next month.
At 1616 GMT, the rand traded at 17.39 againstthe dollar ZAR=D3, about 0.8% firmerthan its previous close.
Thedollar index =USD was last down about 0.05% against a basket of currencies.
Data from the world's biggest economy this week keptintact bets of another rate cut when the Fed meets in November.
The U.S. producer price index for final demand was unchanged last month, data showed on Friday, a day after other data showed jobless claims rose while consumer inflation was slightly higher than expected in September.
The local currency has tracked the dollar and U.S. economic data points this week in the absence of major domestic events.
On the stock market, the blue-chip Top-40 .JTOPI index closed about 0.8% up.
South Africa's benchmark 2030 government bond ZAR2030= was slightly weaker, with the yield up 1.5basis points to 9.155%.
Reporting by Bhargav Acharya and Tannur Anders; Editing by Toby Chopra and Gareth Jones
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