Move over Mexico. With the U.S. election campaign over, South Africa’s rand has replaced the peso as the currency poised for the biggest politically driven price swings.
The peso, considered a barometer for investors’ views on Donald Trump’s chances, has been roiled as the presidential candidate’s fortunes ebbed and flowed. Now it’s the rand’s turn, with a measure of expected volatility over the next three months rising above that of the Mexican currency as the focus shifts to South Africa’s President Jacob Zuma and his battle with Finance Minister Pravin Gordhan for control of the country’s purse strings.
