The rand was firmer against major global currencies shortly before noon on Tuesday, ahead of key risk events, and following some positive local news.President Cyril Ramaphosa’s suspension of South African Revenue Service (SARS) commissioner Tom Moyane lifted sentiment, said analysts, a further sign the government would act against officials seen as compromised.Major local data releases were positive, with inflation — measured by the annual change in the consumer price index (CPI) — rising 4% in February, as opposed to a 4.2% Trading Economics consensus forecast.Moderating inflation protects the relative purchasing power of a currency over the longer term, with the inflation print further boosting chances that the Reserve Bank will cut interest rates next week.The rand could, however, come under pressure later this week, with focus on the US Federal Reserve open market committee meeting on Wednesday.Risk-off sentiment resulting from fears of a trade war continue to spook investors, w...
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