South African rand gains ground against softer dollar

JOHANNESBURG, Oct 11 (Reuters) - The South African randfirmed against the dollar on Thursday after the greenback wasjolted by the worst fall in U.S. stocks in nearly eight months.
* The rand was 0.71 percent stronger at 14.6750 perdollar at 0650 GMT, having closed in New York at 14.7800.
* The rand is expected to trade between 14.6000 and 14.9000to thedollar on Thursday, NKC African Economics wrote in a note.
* The rand had been supported by the market's favourablereactionto the appointment of Tito Mboweni as the new South Africanfinance minister on Tuesday.
* South Africa-focused investors were awaiting the releaseof thestatistics agency's manufacturing production data for August dueat 1100 GMT. Consensus expectations are for production to haverisen 0.6 percent on an annual basis.
* In fixed income, the yield on the benchmark governmentbond duein 2026 rose 3 basis points to 9.260 percent. (Reporting by Nomvelo ChalumbiraEditing by Ed Stoddard)

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