The rand was weaker at midday on Tuesday in subdued trade as the dollar remained flat against the euro and commodity prices were up slightly. The speculation of a possible Cabinet reshuffle and the political uncertainty is still weighing on the rand. The reshuffle coupled with the developing court battle between Finance Minister Pravin Gordhan and the Gupta family is compounding risk to the local currency. Director and head of currency dealing at TreasuryOne Wichard Cilliers said that it was surprising to see that the minister had not received any support from peer ministers, nor his political party. "Once again it looks like it’s the Treasury against a combined onslaught from various associates with links to the infamous Gupta family," Cilliers said. President Donald Trump’s executive order banning immigrants from seven predominately Muslim countries and move to fire (reminiscent of his reality TV days) acting attorney-general Sally Yates over her directive to the US justice depart...
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