South Africa's rand retreats with fundamentals back in focus

South Africa's rand retreats with fundamentals back in focus

"It's really hard to call, it needs to close above (R) 12.52 to get out of these ranges, but a test of around (R) 12.20 can not be totally discounted", Bryson said.

Before taking office, Zuma dismayed the nation during his 2006 rape trial when he told the court he had showered after having unprotected sex with his young HIV-positive accuser to avoid, he said, contracting the virus.

Mr Zuma's announcement came ahead of today's meeting of the top leadership body of the governing African National Congress (ANC).

But if he is able to demonstrate early signs of action - for example, if Zuma is recalled and the cabinet reshaped as Ramaphosa would want - this would be a sign that paralysis won't happen.

"The ANC can not avoid dealing with the future of Jacob Zuma".

The sources all agreed that it was now a matter of when, and not if, Zuma stepped down. In her report, State of Capture, Madonsela found that Zuma was conflicted through his family's business relationships with the Gupta family in appointing a judge to head the commission.

Zuma said the commission would be headed by Deputy Chief Justice Raymond Mnyamezeli Mlungisi Zondo.

The terms of reference for the commission and the extent to which Zuma was able to influence these will be instructive.

Disgruntlement with Zuma's rule caused support for the ANC to fall to a record low in the 2016 municipal elections and cost it control of Johannesburg, the economic hub, and Pretoria, the capital.

Anticipation that Ramaphosa, a lawyer and one of the wealthiest black South Africans, would imminently replace Zuma helped boost the rand 11% against the dollar last month, the most among the world's major currencies.

At 1pm the rand was 1.4% weaker at R12.5075 to the dollar, slightly better than the slide to its weakest level since December26.



Latest news

Football Moment that Left us Speech-Less.
With an 11- 0 score at the end of the game, Germany started the Shanghai Women’s World Cup with a world record win. Women’s World Cup 2007 Germanys women’s team opened the World Cup with a bang against Argentina.

Analysts' Activity: Teekay Offshore Partners LP (TOO)
Finally, Stifel Nicolaus began coverage on shares of Teekay LNG Partners a research report on Monday, November 21st. According to the Analysts, the Low Estimate Earnings of the current Quarter is $-0.4 whereas, High Estimate is $-0.4.

Kris Bryant gets record first-year arbitration deal
Bryant has 94 home runs in his first three seasons in the big leagues to go with a.288 batting average and.388 on-base percentage. He's in the first year of arbitration and has a career 2.94 ERA, 1.098 WHIP and finished third in the NL Cy Young voting in 2016.

John Williams Will Score Star Wars: Episode IX
Besides work on the sequel trilogy, Williams has also confirmed that he'll be writing a theme for the upcoming Solo: A Star Wars Story .

Vigil Held In Support of Children's Insurance Program
A second analysis, released publicly on Thursday, projects $6 billion in savings if Congress funds the program for 10 years. Although it's not a full repeal of the ACA, this may lead to more bipartisan cooperation as health care is addressed.

Other news