The rand was firmer on Friday afternoon as markets watched for any developments towards an exit for President Jacob Zuma, while also waiting for US markets to open. The opening of the Dow is being closely watched as investors look for an end to recent volatility that has put emerging-market currencies under pressure. A recent sell-off of equities had been prompted by rising yields on US treasuries. "The big question in markets now is whether this rise in US yields and the dollar, as well as the fall in US equities, will be a sustained market correction," said Rand Merchant Bank analyst Isaah Mhlanga. The Vix fear gauge spiked to 37% on Monday — the highest since August 2015. It was a little calmer on Thursday but was trending up on Friday, said Mhlanga. The rand, which had weakened overnight, gained earlier on Friday on reports that senior ANC officials had cleared their schedules to meet with Zuma. This includes deputy president Cyril Ramaphosa, who has reportedly also cleared his ...
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