South African rand rallies on hope DA and ANC can agree on cabinet posts
JOHANNESBURG -The South African rand rallied on Friday on optimism that the Democratic Alliance and African National Congress would reach an agreement over cabinet positions, a day after local media reported a major disagreement between the parties.
The comments came after the News24 website and the Business Day newspaper had reported that the ANC had backtracked on an offer to give the DA the trade and industry ministerial portfolio, angering the DA. "The most likely outcome thus remains for the ANC and DA to reach an agreement. Depending on what that agreement entails, we could see the rand extend its previous rally," he added.
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