The rand retained its firmer footing against the dollar on Tuesday afternoon, in line with other emerging-market currencies. The dollar has rallied in the past few weeks, amid upbeat prospects of economic growth in the US, and the increased likelihood of an interest-rate rise later in 2017. The Turkish lira, however, led gains against the greenback on Tuesday, while the euro, which the rand usually tracks, was also firmer. Speculation that Catalan leader Carles Puigdemont may be preparing to declare independence on Tuesday continued to grow, but seemed largely to weigh on Spanish assets, with the euro showing little or no sign of being negatively affected, said Oanda analyst Craig Erlam. TreasuryOne currency dealer Andre Botha said the pause in the US dollar’s rally had calmed markets, and as the number of headlines coming out of Turkey dropped, emerging-market currencies had recovered a little. Markets now look forward to the release of US consumer price inflation data on Friday, a...
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