The rand slipped on Tuesday afternoon, reflecting disappointment in the ANC’s media briefing about President Jacob Zuma, which analysts described as ambiguous. The governing party officially confirmed that it had recalled Zuma during its national executive committee (NEC) meeting, which was concluded in the early hours of Tuesday morning. "Initial feelings are that the market is a bit disappointed due to ambiguity in the stance of the NEC," said Ashley Dickinson, head of fixed-income dealing Sasfin Wealth. "Also we get a sense that the ‘ex’ president can still cling to power and has had too much wiggle room afforded him by the executive. We are concerned that Zuma might still have an ace up his sleeve in terms of ‘dirt’ on his detractors."
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