The South African rand softened on Friday, cooling off after strong gains in a week that saw interest rate cuts by both the U.S. Federal Reserve and the South African Reserve Bank, plus a local inflation print.

The South African rand gained in early trade yesterday, as markets geared up for a week packed with interest rate announcements and a local inflation print. At 0720 GMT, the rand traded at 17,66 against the dollar, about 0,6 percent firmer than its previous close.

The decision to cut the repo rate signals a shift towards a more accommodative monetary policy stance in light of favorable inflation trends and supportive economic indicators.

The South African rand held onto early gains on Thursday following the South African Reserve Bank's (SARB) decision to cut interest rates for the first time in over four years, after a super-sized interest rate cut by the U.

The South African rand was little changed in early trade on Friday, as markets weighed up bets on the size of a rate cut expected in the world’s biggest economy next week. At 0804 GMT, the rand traded at 17.

The rand strengthened Thursday, as sentiment was boosted by the dollar’s pullback and South Africa’s first interest-rate cut in four years.Most Read from BloombergAOC Proposes $30 Billion Social Housing AuthorityCalifornia’s Anti-Speeding Bill Can Be a Traffic Safety BreakthroughThe Moonshot Plan to Eliminate Deaths on America’s RoadsNew York City’s Transit System Plans $65.

The South African rand held steady on Tuesday, with investor focus on Wednesday's U.S. Federal Reserve policy decision which could see it deliver a big interest rate cut.