The rand was relatively composed on Friday morning, but remained on track for its worst weekly performance against the dollar since November. A weaker currency inflates the cost of imports. South African Revenue Service data showed imports were worth R91.4bn in January, outstripping exports of R80.59bn. This week, the local currency has shed about 2% against the dollar, which has stood tall against most currencies amid the expectation that the Federal Reserve will increase rates next week. It is against this backdrop that the release of the US nonfarm payrolls report in the afternoon will assume an even greater importance. The US economy is expected to have created about 180,000 jobs in February, down from 227,000 jobs in January. The ADP private-sector jobs report, which is usually regarded as the lead indicator to the nonfarm payrolls report, has created a sense of higher expectations. "Given the importance of today’s number it is still a bit of a thumb suck trying to second guess...
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