South African rand falls as dollar gains ahead of key US data

JOHANNESBURG, Sept 2 (Reuters) - The South African rand fell on Tuesday against a much stronger dollar as investors awaited key U.S. data that could influence the Federal Reserve's interest rate decision this month.

At 1314 GMT, the rand traded at 17.7350 against the dollar , about 0.6% weaker than Monday's close.

The dollar last traded 0.8% firmer against a basket of currencies, dulling the appeal of most emerging market currencies.

Job openings and private payrolls data are due on Thursday, followed by nonfarm payrolls on Friday, with August inflation data scheduled for September 11.

Like other risk-sensitive currencies, the rand often takes cues from global drivers such as U.S. policy and economic data in the absence of major domestic economic releases.

Gold prices hit a record high on Tuesday, but Investec's chief economist Annabel Bishop, said the higher prices in South Africa’s commodities exports, metals and minerals, have not translated into the same strength in the rand.

On the Johannesburg Stock Exchange, the Top-40 index last traded down 1.1%. South Africa's benchmark 2035 government bond weakened, bringing the yield up 5.5 basis points to 9.645%. (Reporting by Sfundo Parakozov and Anathi Madubela; Editing by Andrew Heavens and Peter Graff)

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