The rand was stronger against major global currencies on Wednesday afternoon, following mixed local data releases and a court ruling that President Jacob Zuma must establish a judicial commission of inquiry within 30 days. The High Court in Pretoria ordered that Zuma implement remedial action prescribed by former public protector Thuli Madonsela as given, and cannot appoint the head of the inquiry himself. Political headlines are being closely watched ahead of the ANC’s elective conference, which begins this weekend, with the court ruling already being welcomed in some quarters as a victory against rent-seeking.
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