The rand was firmer against major global currencies on Wednesday morning, as all eyes were on the presidency with it unclear if President Jacob Zuma would leave office.The presidency earlier denied reports of a scheduled media briefing by Zuma, saying the media was "urged to await official notification".Reports on Wednesday also suggested that members of the controversial Gupta family had been arrested.The ANC’s national executive committee had decided on Tuesday to recall Zuma.The rand should remain range-bound ahead of any media briefing, said TreasuryOne currency dealer Gerard van der Westhuizen. The local currency could, however, come under pressure later with the release of US inflation data.The US is scheduled to release January’s inflation data at 3.30pm South African time‚ giving a clue as to when its central bank would raise interest rates further. January’s inflation was expected to be 1.9%‚ slightly lower than the previous month’s 2.1%. The US Federal Reserve has a target...
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