The rand was slightly weaker against the dollar at midday on Wednesday, but had bounced back from weakest intraday levels on better consumer inflation data. Figures released in the morning by Statistics SA showed that consumer inflation slowed from an annual 6.3% in February to 6.1% in March. "We expect that headline inflation will continue to ease over the coming months," Capital Economics analyst John Ashbourne said. However, some commentators expected that the recent weakening of the rand would push up inflation. "We’re not convinced," Ashbourne said. At 11.40am the rand was at R13.3228 against the dollar from R13.2952. It was trading in a range between R13.26 and R13.38. The rand was at R14.2798 against the euro from R14.2689 and at R17.0964 against the pound from R17.0744. The euro was at $1.0717 from $1.0732. The pound was at $1.2824 from $1.2842 following UK Prime Minister Theresa May’s call on Tuesday, for a general election in June. Currency markets have also been focused o...
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