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Rand Slides Despite Confirmation Of Zuma Recall Amid Resignation Timeline Confusion

Following repeated headlines and news reports that South African president Zuma is set to resign, perhaps immediately, it was hardly a surprise this morning when South Africa's ruling party - the Africa National Congress - confirmed it will compel Zuma to resign. And yet, the confirmation prompted the South African Rand (ZAR) to slump... ... with two reasons being cited: First, the announcement had been largely priced in following press reports that the ANC would recall Zuma after its marathon 13 hour meeting by the National Executive Committee.
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