JOHANNESBURG, Nov 13 (Reuters) - South Africa's rand firmed in early trading on Wednesday after three days of heavy losses as markets fretted over what U.S. President-elect Donald Trump's policies could mean for trade relations.

At 0736 GMT, the rand traded at 18.05 against the U.S. dollar , about 0.4% stronger than its previous close.

The currency has been highly volatile, losing about 4% against the greenback since the U.S. election on Nov. 5.

"The currency has struggled amid rising U.S. Treasury yields and dollar strength driven by expectations of pro-growth policies under Trump," said Andre Cilliers, currency strategist at TreasuryONE.

"Although (South Africa's) terms of trade remain relatively robust, short-term speculative positioning has pressured the rand," Cilliers added.

The rand is likely to take direction from global drivers on Wednesday amid a light domestic calendar.

On the Johannesburg stock market, the blue-chip Top-40 index (.JTOPI) , opens new tab was down about 0.3% in early trade.

South Africa's benchmark 2030 government bond was slightly weaker in early deals, with the yield up 2 basis points to 9.25%.

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https://www.reuters.com/markets/currencies/south-african-rand-firms-after-big-fall-following-trump-victory-2024-11-13/