The South African rand edged up to around 17.3 per USD, supported by higher prices for precious metals, particularly gold, and a broadly subdued dollar. Meanwhile, attention remained on central bank actions and updates on US tariffs. Investors weighed the prospects of a measured US policy easing, after several Fed officials, including Chair Jerome Powell, signaled a cautious stance on future rate cuts. Domestically, the South African Reserve Bank (SARB) left its repo rate unchanged at 7%, as anticipated, flagging risks to inflation in the coming months, despite sluggish growth. Inflation targeting has become a key focus for the central bank, which recently decided to aim for the lower end of its 3%–6% range. On the trade front, South Africa's Minister of Trade and Industry, Parks Tau, confirmed negotiations with the US over 30% tariffs on local exports have entered a critical phase, with the US expected to provide a revised text early next week to advance discussions.