The rand was relatively flat against the dollar on Tuesday morning as the US currency bounced off the day’s lows amid some bargain-hunting. The dollar index, which measures the greenback against a range of major currencies, has lately encountered mild correction amid growing concern about US President Donald Trump’s protectionist polices. "The US dollar again looked to be hovering around in limbo this morning, awaiting more direction from incoming data sets," said Wichard Cilliers, the head of dealing and a director at TreasuryOne. "Trump’s focus on protectionism of the US economy is causing a lot of uncertainty for the time being." Markets will also keep tabs on the Reserve Bank’s monetary policy committee, which wraps up its two-day meeting on interest rates in the afternoon. Economists expect the committee to stand pat on rates, but the tone of governor Lesetja Kganyago will be closely scrutinised for potential clues on the central bank’s inflation outlook. At 9.10am the rand was...
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