ZAR plummets on South Africa cabinet reshuffle's headlines

Felipe Erazo FXStreet

According to ENCA TV, South Africa's President Jacob Zuma has removed Pravin Gordhan as Finance Minister in a cabinet reshuffle. At the time of writing, ZAR is under pressure across the board, with the USD/ZAR pair skyrocketing above 13.30, trading at 13.36, up 0.65% on the day. By the other hand, ZAR/JPY is currently trading at 8.345, down -0.61% on the day.

Author

Felipe Erazo

FXStreet

Born in Colombia, Felipe Erazo is the American Session Manager at FXStreet. He has been studying journalism with a degree in social communication at the Universidad de Chile.

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