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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

South African rand eases, seen range bound ahead of Fed

Reuters
A street money changer counts South African Rands in Harare, Zimbabwe, May 5, 2016. REUTERS/Philimon Bulawayo (Reuters)

JOHANNESBURG (Reuters) - South Africa's rand weakened against the dollar in early Monday trade, as recent U.S. economic data boosted the possibility of the Federal Reserve lifting rates this year. * Rand down 0.23 percent at 14.3325 by 0643 GMT, compared with Friday's close at 14.3460. * Blue chip Top-40 futures index edges up 0.18 percent, indicating bourse will open slightly firmer at 0700 GMT. * Government bonds up slightly, and yield on debt maturing in 2026, the secondary market benchmark, dips a basis point to 8.8 percent. * Traders see rand in limbo within 14.20-14.50 range ahead of Wednesday Fed statement. (Reporting by Stella Mapenzauswa; Editing by Joe Brock)