The rand was a lot stronger at lunchtime on Tuesday, managing to briefly break through R13.20 to dollar amid strong buying momentum. The stronger currency helps ward off inflation, which is expected to have eased to an annual rate of 6.7% in January, from 6.8% in December. The relatively benign inflation outlook could lead the Reserve Bank to lower interest rates, which is positive for cash-strapped consumers. The strength in the currency markets came as investors await comments from US Federal Reserve chair Janet Yellen, who is scheduled to testify before the US congress later on Tuesday. Yellen’s address to congress was expected to provide more information on the planned interest-rate increases in the US for the year ahead. Inflation was expected to decline to 6.7% in January from 6.8% in December, which led to an appreciation of the rand. At 11.46am the rand was at R13.2087 to the dollar from R13.3351. It was at R14.0303 to the euro from R14.1319 and at R16.4815 to the pound from...
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