At 1530 GMT the rand was 0.22% weaker at 13.7900 per dollar, rolling back from a session-best 13.6775 - its strongest level since February 2019.

The rand is the best-performing currency against the dollar to date in 2021, advancing nearly 7%.

The rand's gains have largely been driven by investors' bets that the U.S. central bank would lend at low rates for longer despite signs of higher inflation in the world's no.1 economy. Soaring commodity prices have also driven demand for the rand.

A host of Fed officials this week echoed the sentiments of Chair Jerome Powell that a spike in inflation would be transient and ultra-easy policy continued to be warranted.

But on Thursday investors cut back on those Federal Reserve bets as U.S. bond yields ticked up on new economic data showing declining job losses. U.S. inflation data due on Friday also prompted some caution and profit-taking.

"A sense of caution enveloped financial markets on Thursday as investors awaited US data expected to offer more clues on inflation, economic growth and the outlook for monetary policy," said senior analyst at FXTM Lukman Otunga in a note.

Bonds were weaker, with the yield on the benchmark 2030 government issue adding 5.5 basis to 8.95%.

Stocks rose, with the Johannesburg Stock Exchange's Top-40 Index closing 1.18% higher at 60,802 points and the broader All-Share Index rising 1.26% to 66,940 points.

Retailer Mr Price led the gains on the blue-chip index, rising 11.7% after it reported a 1.9% rise in annual profit and restored its dividend.

(Reporting by Mfuneko Toyana and Emma Rumney, Editing by William Maclean)