The rand continued to hover at a five-month low against the dollar on Monday afternoon, in range-bound trade, as investors eye risk events this week. News at the weekend that the US trade conflict with China "was on hold", has put even more buoyancy in the greenback, keeping emerging-markets under pressure. At 3pm, the rand was at R12.8195 to the dollar from R12.7755, at R15.0844 to the euro from R15.0363 and R17.2106 to the pound from R17.2044 The euro was at $1.1768, from $1.1773. Expectations that the US Federal Reserve may start normalising monetary policy at a faster pace than that of the European Central Bank, has recently bolstered the greenback. Analysts said in the absence of major news, dollar strength looked set to continue, and overshadow local factors. "The dollar is grossly overbought and due for at least a mild profit taking correction, but for now, the bears have no viable catalyst to spur a counter-trend move," said BK Asset Management MD Boris Schlossberg. Range-bo...
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