The rand had extended its earlier gains against major currencies shortly before midday on Friday, as the dollar remained under pressure.The euro, which the rand usually tracks, was close to a two year high against the dollar in late morning trade.The euro gained after the European Central Bank on Thursday kept intact expectations of monetary policy tightening later in 2017, in what was widely seen as a dovish stance.Recent greenback weakness had followed fresh concerns over the administration of US president Donald Trump, reported Dow Jones Newswires.On Thursday, the Reserve Bank cut the repurchase rate 25 basis points to 6.75%, surprising a market that had widely expected rates to be kept on hold until September.Despite the fact that the interest-rate cut was a surprise, the effect on the rand was limited, Nedbank Corporate and Investment Banking analysts said."This was most likely a reflection on the long dollar positioning in the market," Nedbank said.Reserve Bank governor Lesetj...
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