The rand held up on Friday morning, benefiting from a limping dollar that has been shaken by internal US politics. Earlier in the week, US President Donald Trump disbanded two key business advisory councils, raising fresh questions about whether he would be able to implement his promised fiscal stimulus, which included potential tax cuts. The concern also hobbled the US share market late on Thursday, and this spilt over into Asia on Friday morning But the deterioration in global sentiment did not immediately play out in the rand, which headed for its best weekly gains since mid-July. The weak dollar and relatively better than expected local retail numbers boosted the fortunes of the rand, which helps to keep inflation in check. A growing number of economists expect the Reserve Bank to further ease monetary policy before the end of the year. At least 11 of 27 economists in the latest Reuters survey expect the Bank to cut the repurchase rate in September during its scheduled meeting. ...
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