JOHANNESBURG, June 19 (Reuters) - The South African rand weakened in early trade on Friday, pressured by a firmer dollar and hawkish signals from the U.S. Federal Reserve that dampened appetite for riskier assets.

• At 0613 GMT the rand traded at 16.50 against the dollar ZAR=D3, about 0.3% down from its previous close.

• The currency came under pressure as investors reassessed expectations for U.S. interest rates, with Fed officials signalling that borrowing costs may need to remain elevated for longer to curb inflation.

• The greenback =USD strengthened against a basket of currencies, rising to a one-year high.

• Analysts have said that the USD's advance reflects a sharp repricing of US rate risk rather than safe-haven demand.

• "Upside surprises in payrolls and persistently low layoffs reinforced the view that the US economy can tolerate tighter policy, while cheaper Brent crude failed to offset higher short-term US yields. For South Africans, this keeps USD liquidity expensive and caps ZAR rallies," said ETM Analytics in a note.

• South Africa's benchmark 2035 government bond ZAR2035= was also weaker in early deals, as the yield rose 5 basis points to 8.32%.