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RTRS:S.Africa's rand could attempt 8.10 against dollar
 
* Rand recovers from 4-week lows vs dollar

* Gordhan speaks at 1000 GMT

* Bonds weaker, off multi-week lows

By Phumza Macanda

JOHANNESBURG, Nov 17 (Reuters) - South Africa's rand firmed slightly against the dollar on Thursday and could attempt levels closer to 8.10 as it recovers from hitting four week lows.

Domestic stock futures pointed to a lower open on the bourse at 0700 GMT, with the JSE's Top-40 December futures contract down 0.18 percent before the market opened.

Government bonds weakened slightly and yields, which move inversely, ticked up.

Finance Minister Pravin Gordhan is due to speak at Stellenbosch University at 1000 GMT, with market players watching his comments closely for clues about economic expectations.

But the rand has mainly taken direction from abroad in recent weeks, with local developments taking a back seat.


Fears the euro zone debt crisis could spread to other economies in the region has turned investors off high risk assets this week and the rand hit a four week low of 8.24 to the dollar on Wednesday before bouncing back.

It was trading at 8.16 at 0630 GMT, 0.37 percent firmer than Wednesday's New York close of 8.1905.

"It does look like we could be in for some consolidation on the rand today and it could attempt levels closer to 8.10," said Ion de Vleeschauwer, chief dealer at Bidvest.

"There is strong exporter interest to sell dollar above 8.20 and that is keeping the rand from weakening much further. There will be importer interest the closer we get to 8.00 so it is in those ranges," he added.

The rand has been struggling to shake off a weak trend since hitting a 28-month low of 8.4950 in September.

Market analysts Tradition said the rand could be in for a "modest" recovery if it does not close above 8.20 on Thursday.

On fixed income, the yield on the 2015 bond was up 2.5 basis points to 6.82 percent and that on the 2026 issue was up 1.5 basis points to 8.49 percent.

Market players will be watching a Statistics South Africa briefing at 0700 GMT. The agency will unveil how both consumer and producer inflation baskets will be revamped over the next 15 months. (Editing by Jon Herskovitz)
Source