At 8.32am‚ the rand was at R15.9468 to the dollar from R15.9259 at Tuesday’s close. It was at R17.6968 against the euro from R17.6878 and at R22.5272 against the pound from R22.5397.
The Hawks are seeking legal advice on a way forward after Mr Gordhan missed a second deadline to respond to questions on an alleged "rogue unit" at the South African Revenue Service (SARS).
"Our legal team are forging a way forward‚ which will see the Hawks exercising our constitutional powers‚" the Hawks said. "The investigations will not be stalled by an individual who refuses to comply with the authorities and demand a preferential treatment."
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Mr Gordhan on Monday said he would respond to the Hawks’ questions once they provided the legal authority on which the questions were based‚ which he had requested in his letter to them on March 1.
In other currency markets‚ The euro was weaker from its Tuesday close against the dollar as traders sat on the sidelines ahead of the US Federal Reserve’s decision on interest rates. The decision will be announced at 8pm CAT.
The euro was at $1.1097 from $1.1106 previously.
Investors will try to glean from the Federal open market committee statement and press conference whether or not to expect a rate increase in June. If the Fed drops hints that the economy is doing well‚ the euro is likely to weaken further.
The dollar gained moderately against the yen in range-bound Asian trade on Wednesday‚ following comments by Bank of Japan governor Haruhiko Kuroda indicating the central bank was prepared to launch additional easing measures‚ Dow Jones Newswires reported.
The US currency was at ¥113.50 at about 4.50am GMT‚ higher than ¥113.19 late on Tuesday in New York.
- TMG Digital/BDlive
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