The rand was under mild pressure on Tuesday afternoon, as the dollar gained against most currencies ahead of the Jackson Hole central bank conference on Thursday. Analysts expect investors to trade gingerly ahead of Thursday’s meeting, where traders anticipate signals on quantitative easing from both the European Central Bank (ECB) and US Federal Reserve. ECB governor Mario Draghi, who will attend, may reiterate concerns about the strength of the euro. The dollar has been on the back foot in the past two weeks, after new controversy for the administration of US President Donald Trump, and tension between the US and North Korea. Risk appetite was gradually returning to the markets again on Tuesday, although sentiment was likely to remain fragile, given the events of the past couple of weeks, said Oanda analyst Craig Erlam. A quieter start to the week was providing some support for the dollar, but it continued to languish close to its recent lows, with high potential for the situation...
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