The rand was slightly weaker against the dollar on Wednesday morning as investors shift their focus to US politics and President Donald Trump’s tax reform plan. His plans are expected to disappoint, which could lead to a weaker dollar. TreasuryOne currency dealer Andre Botha said this would not worry Trump as he had made it clear that he preferred a weaker dollar. Rand Merchant Bank (RMB) analyst Isaah Mhlanga said Trump’s plans were likely to lack details and could lead to a reversal in reflation trade and dollar weakness. Market nervousness around the French elections has eased after centrist Emmanuel Macron won the first round at the weekend. However, Nedbank analysts said political risk would remain at a premium in the eurozone. Local markets will be closed on Thursday for Freedom Day. Botha said the rand could be expected to be "in a state of limbo" ahead of the long weekend. At 9am ‚ the rand was at R13.1330 to the dollar from Wednesday’s R13.0554 and at R14.3561 to the euro f...
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