The rand remained was softer shortly before noon on Wednesday, as the greenback recovered slightly from its recent bout of weakness. After hitting its weakest level to the euro in three years on Tuesday, the dollar climbed against most emerging-market currencies on Wednesday. Dovish comments from European Central Bank (ECB) policy officials on Wednesday showed the Bank was unlikely to tolerate the euro’s recent rise, reported Dow Jones Newswires. Analysts have said euro strength could spook the ECB, which is considering tightening monetary policy in 2018, but has previously been concerned by a lack of inflation in the eurozone. Further rand gains might have to wait given the turn in global fundamentals overnight, said Rand Merchant Bank currency strategist John Cairns. The euro did not manage to hold onto its gains, global equities ended weaker despite an initial good start, and other risk currencies had come under some pressure. Sentiment could be subdued by forthcoming risk events...
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