Emerging-market currencies were mostly flat against the dollar on Tuesday, just before midday, in cautious trade. The rand followed movements of its emerging-market peers on fears that US President Donald Trump’s stimulus policies would not materialise. The dollar is currently under pressure after two more Republican senators voted against the healthcare bill. Rand Merchant Bank analyst Isaah Mhlanga said "Trump’s policies are proving difficult to pass through senate, which has sent the US dollar to its weakest level since September last year". TreasuryOne dealer Andre Botha said "this failure means many of Trump’s pro-corporate policies will fall through the cracks. This will signal the end of the optimism that surrounded Trump trade, and the dollar could slide a little lower". At 11.30am‚ the rand was at R12.9247 to the dollar from R12.9471‚ at R14.9172 to the euro from R14.8638, and at R16.8413 to the pound from R16.9035. The euro was at $1.1542 from $1.1478.
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