South African futures tracked a positive JSE and resurgent Dow on Tuesday, with local and international factors helping to support risk-on trade.Rand strength gave the market the bulk of its direction, with resources under pressure from softer prices for most commodities.Reports on Monday and Tuesday that authorities were about to crack down on individuals fingered in high-profile corruption scandals, including the Gupta family, helped support the rand, analysts said. Late on Tuesday, the National Prosecuting Authority (NPA) denied it had issues any arrest warrants, but confirmed 17 investigations related to state capture were ongoing.According to Bloomberg, the NPA’s Asset Forfeiture Unit, is looking to recover about R50bn worth of assets from the cases it’s pursuing, with six cases already in court.Political developments locally could continue to affect the rand on Wednesday, as the ANC gears up for a national executive committee (NEC) meeting on Thursday.In terms of local data, S...
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