The market appeared confident President Jacob Zuma will show his love of SA by resigning on TV on Valentine’s Day at 10am, with the rand back at R11.92 per dollar. The rand recovered from its fall to nearly R12 per dollar on Tuesday following a disappointing press conference in which ANC secretary general Ace Magashule confirmed the party’s national executive committee (NEC) had “recalled” Zuma, but appeared clueless on when and how the party would enforce this if Zuma declined to leave voluntarily. The rand was trading at R11.92 per dollar, R14.77 per euro and R16.58 per pound at 6:40am. The JSE’s all share index, which enjoyed a second trading day of gains on Tuesday to slow February’s slide, received mixed signals from Asian markets on Wednesday morning. Tokyo’s Nikkei 225 was down 1.1% and Sydney’s ASX 200 was down 0.2% while Hong Kong’s Hang Seng index was up 0.77%. The US is scheduled to release January’s inflation data at 3:30pm South African time, giving a clue as to when it...
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