South African rand set for 7% monthly drop against dollar

Source: Reuters.

* At 0610 GMT the rand traded at 17.1575 against the dollar,about 0.3% firmer than its previous close. * The rand has been at the mercy of global market sentiment since the US and Israel started the war in late February and Iran retaliated. * Tuesday's data releases include April fuel priceadjustments, February's trade balance and a central bank bulletin on the economy in the fourth quarter.