The rand was weaker against major currencies on Monday morning as traders assessed the risks associated with the conflict within the ruling African National Congress (ANC).At 8.46am‚ the rand was at R16.1515 against the dollar from R16.1113 previously.Against the euro‚ the rand was at R17.6755 from R17.6239 previously. It was at R22.4169 against the pound from R22.4002 previously.The euro was at $1.0943 from $1.0914 previously.Battle lines have been drawn between Finance Minister Pravin Gordhan and South African Revenue Service (SARS) boss Tom Moyane.There is mounting political support for Mr Gordhan in what he says is a plot to discredit him and the Treasury‚ with the South African Communist Party (SACP) on Sunday joining the ANC in its support for him.While on the surface the issue appears to be a clash between the two‚ insiders say there are dangerous undercurrents to the saga‚ dating back to the ill-fated appointment of David van Rooyen as finance minister in December and‚ even before that‚ to a so-called "intelligence report" that attempted to smear top officials at the Treasury.In a statement on Friday‚ Mr Gordhan said a letter containing questions about his knowledge of an alleged "rogue unit" at SARS was part of a plan by what he termed a "group of people not interested in the economic stability of this country and the welfare of its people"‚ but interested only in "disrupting institutions and destroying reputations".He warned that‚ if necessary‚ he would take "appropriate legal action" to protect himself and the Treasury from those seeking to discredit him‚ "the institution and its integrity".Nomura emerging markets economist Petter Attard Montalto said the developments posed risk to South African assets."We think the market is significantly underestimating the conflict stirring within the ANC. As a result‚ South African assets need (to offer more in the way of returns) ... for the volatility and tail risk on the political front as this story develops‚" he said...