South African rand holds near 5-month peak after US inflation data

South African Rand coins are seen in this illustration picture taken October 30, 2020. REUTERS/Mike Hutchings/Illustration/File Photo

JOHANNESBURG, Aug 12 (Reuters) – The South African rand firmed on Wednesday, hovering near a five-month high as the dollar weakened after U.S. inflation data met expectations, reinforcing bets that the Federal Reserve would keep interest rates unchanged in September.