The rand was back under R12 to the dollar on Wednesday morning, strengthened by speculation that President Jacob Zuma’s resignation is imminent.The rand strengthened 2.4% from R12.18 per dollar to R11.89 on Tuesday following reports that Zuma requested a postponement of the state of the nation address he was scheduled to give on Thursday.Following talks between newly elected ANC president Cyril Ramaphosa and Zuma on Tuesday night, a meeting by the party’s national executive committee scheduled for Wednesday at which Zuma was expected to be voted out has been postponed, prompting speculation that Ramaphosa persuaded Zuma to leave voluntarily.The rand was at R11.95 to the dollar, R14.81 to the euro and R16.70 to the pound at 7am.The JSE looked likely to rebound on Wednesday along with global markets from Tuesday’s 1.29% fall in the all share index.Among emerging markets, SA was the second-biggest casualty behind Brazil in the global rout that began on February 1, when measured in doll...
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