The rand staged a slight comeback on Friday morning, taking its cue from the overseas markets.The euro fared better against the dollar in early trade, with markets appearing to have absorbed the implications of the European Central Bank’s (ECB) surprise pledge on Thursday to keep interest rates lower for the next 18 months.The euro initially took a big knock on the announcement by the ECB, which also disclosed that its unconventional monetary policy stimulus, known as quantitative easing, would be phased out in December."The kicker to the statement was that interest rates [would not change] for at least 18 months, which makes the US the shining light in the world economy as they have decent growth while in an interest-rate hiking cycle," TreasuryOne currency dealer Andre Botha said.The slightly better euro played out positively for the rand, though not enough to shake the latter’s losses for the week.The rand has been at the mercy of unforgiving global developments over the past thr...
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