The rand was marginally weaker on Tuesday afternoon as the market awaited direction from interest-rate decisions by the US Federal Reserve and the South African Reserve Bank, over the next two days. The Reserve Bank is expected to announce its interest-rate decision on Thursday, with general market consensus being for a cut of 25 basis points. The market is pricing in a 60% possibility of one rate hike in the US this year. A more hawkish stance by the Fed would be likely to support the dollar, causing some rand weakness. The euro gained some support on upbeat German manufacturing data, with the benchmark ZEW survey climbing 1.2 points in September to 87.9, above consensus expectations of 86.2. "This may partially reflect optimism regarding a potential Angela Merkel-led coalition, given recent opinion polls for the poll scheduled for September 24," Barclays Research analysts said. Momentum SP Reid analysts said the rand had recently weakened on technical analysis based on its 200-day...
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