At 0754 GMT, the rand traded at 19.0975 against the dollar, 0.59% weaker than its previous close.
The dollar index was last trading 0.08% higher against a basket of currencies, after hitting a five-month on Tuesday.
Following a recent raft of U.S. economic data, markets have reduced bets of a Fed interest rate cut in July, with the likelihood of the first cut only coming in September.
"Safe-haven assets like the dollar and gold are in demand as risk sentiment turns negative," said Andre Cilliers, currency strategist at TreasuryONE.
On the South African stock market, the Top-40 index was down 1.73% while the broader all-share index was 1.65% lower in early trade.
South Africa's benchmark 2030 government bond was weaker in early deals, with the yield up 6 basis points to 10.845%.
(Reporting by Bhargav Acharya; Editing by Ros Russell)
