Rand rise 'not JZ related'
The rand is stronger against the dollar but yesterday's Constitutional Court ruling that President Jacob Zuma "pay back the money" has little to do with it. Economists said global factors had helped the rand strengthen to 14.68 against the dollar.Political economist Daniel Silke said a "slowing US interest rate cycle and a substantial weakening of the dollar" had been the main impetus, although he conceded that "the judgement will have a positive impact on sentiment in the country which has been under substantial pressure as a result of a variety of domestic political concerns".Capital Economics analyst John Ashbourne said the rand would rally further if Zuma were forced to resign.But, he added, "any market optimism surrounding a political change would not last long because Zuma's replacement would still face a dire economic situation"...
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