Rand losing its hubcaps

The wheels are coming off the rally in the rand. The currency has swung to being the emerging world's worst performer this month, from best in the third quarter, after the move to prosecute Finance Minister Pravin Gordhan sparked an international sell-off of South African assets. The roller-coaster ride is testament to the depth of concern among investors over the battle between Gordhan and supporters of President Jacob Zuma for control of the nation's purse strings.