The rand was firmer on Monday morning against the dollar after the greenback weakened following US Federal Reserve minutes signalling uncertainty about the policy direction of president-elect Donald Trump’s administration. The dollar fell against the yen and euro in early Asian trade on Thursday, amplifying overnight weakness. At 8.56am the rand was at R13.5135 against the dollar from Wednesday’s R13.6214. It was at R14.2739 to the euro from R14.2879 and R16.7006 to the pound from R16.7801. The euro was at $1.0562 from $1.0490. The Fed minutes, from the December meeting at which it raised short-term rates for only the second time in a decade, showed that central bankers grappled with the "considerable uncertainty" Trump’s monetary policy would have on the US economy, Dow Jones Newswires reported. Trump’s policy includes economy-boosting tax cuts coupled with infrastructure development and increasing manufacturing in the US.
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