South Africa's rand was subdued on Monday as risk appetite waned amid geopolitical tensions and traders looked ahead to domestic inflation data due this week for clues on the central bank's rate-cutting path.
At 1355 GMT the rand traded at 16.4175 against the dollar, little changed from Friday's closing level.
ETM Analytics said that risk appetite might be in shorter supply at the start of the week after US President Donald Trump threatened a wave of increasing trade tariffs on key European allies till the US is allowed to buy Greenland.
Like other risk-sensitive currencies, the rand often takes its cue from global drivers such as US policy.
Domestically-focused traders will examine consumer inflation data on Wednesday, which will impact monetary policy and has implications for South Africa's financial markets.
"Consensus estimates have the inflation rate rising marginally to 3.6%, although the downside risk to this data is high. With the ZAR having performed well in recent months, it is likely the market has underestimated the ZAR's impact," ETM Analytics said in a research note.
On the Johannesburg Stock Exchange, the Top-40 index last traded flat.
South Africa's benchmark 2035 government bond weaker, with the yield up 7 basis points to 8.415%.
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