JOHANNESBURG, June 8 (Reuters) - The South African rand strengthened on Monday, reversing earlier losses after Iran's military announced that its attacks on Israel had ended, easing the geopolitical outlook for the tension-sensitive currency.
o At 1331 GMT, the rand traded at 16.4650 against the U.S. dollar, roughly up 0.5% from its previous close.
o Iran's military announced on Monday that its first wave of attacks on Israel since a ceasefire in April was now over, although it threatened to resume the strikes if Israel continued attacks on Lebanon.
o Like other risk-sensitive currencies, the rand often takes cues from global drivers. It has been at the mercy of global market sentiment particularly since the start of the U.S.-Israeli war on Iran at the end of February.
o The greenback weakened against a basket of currencies, with oil prices also easing after Tehran's comments.
o This week, South Africa-focused investors will assess gross domestic product figures on Tuesday, then current account, mining and manufacturing data on Thursday for clues on the health of Africa's most industrialised economy.
o On the Johannesburg Stock Exchange, the Top-40 index was last down 0.2%, mostly hurt by mining stocks.
o South Africa's benchmark 2035 government bond was also weaker, as the yield rose 2 basis points to 8.74%.
(Reporting by Nilutpal Timsina and Sfundo Parakozov; Editing by Thomas Derpinghaus and David Holmes)
