JOHANNESBURG - South Africa's risk-sensitive rand traded in a narrow range on Friday ​as investors followed ⁠Middle East developments after U.S. President Donald Trump's decision ‌to postpone attacks on Iran's energy infrastructure.

At 0801 GMT, the ​rand traded at 17.11 against the dollar , little changed on the ​week and ​broadly in line with its emerging-market peers.

ETM Analytics said the currency is expected to remain ⁠on the defensive as the U.S.-Israeli war on Iran weighs on risk sentiment.

Trump said on Thursday he would postpone attacks on Iran's energy plants for 10 days at ​Tehran's request ‌and that ⁠talks with Tehran ⁠were going "very well".

However, reports that the U.S. president was considering sending ​more troops added to concern ‌about the war escalating into a ground ⁠conflict, with no certainty that the Strait of Hormuz could be reopened to shipping soon.

"The South African Reserve Bank will have a lot to consider in the coming months and will need to constantly walk a fine line between containing inflation expectations and not disrupting the country's Gross Domestic Product growth dynamic," said ETM ‌Analytics.

The central bank kept its policy rate ⁠at 6.75% on Thursday, saying caution was ​needed.

On the Johannesburg Stock Exchange, the Top-40 index was down 0.7% in early trade.

South Africa's benchmark 2035 ​government ‌bond also weakened, with the yield rising 13 ⁠basis points to 9.12%.