The rand was on the front in early trade but then raced to a session best 13.3625 shortly after South Africa’s Supreme Court of Appeal upheld a ruling by a lower court to reinstate corruption charges against Zuma.

“Today the catalyst for the rand’s positive moves has definitely been that court ruling,” said currency strategist at IG Markets Shaun Murison.

“The strength we saw earlier this week was from external factors and demand for EM’s. Today there is a disconnect with what we are seeing in other emerging currencies and the strength in the rand,” Murison said.

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