The rand was marginally firmer in late afternoon trade on Monday on renewed dollar weakness. The dollar could not hold $1.1162 against the euro on the day and weakened above the $1.12 level to the euro again. The dollar lost ground following comments by German Chancellor Angela Merkel that the euro was too weak in the light of the accommodative policies of the European Central Bank (ECB). The dollar was also weighed down by the Donald Trump factor, despite the US president’s absence from Washington, as he was on his first overseas visit as the country’s leader. Analysts have thrown doubt on Trump’s passing his announced plans on tax reform and infrastructure spending if his administration remained bogged down by the special investigation into possible collusion between his staff and Russia, during and after last year’s election. The rand was trading in a tight range, firming to R13.1379/$ on Monday ahead of the South African Reserve Bank’s monetary policy committee decision on inter...
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