BUSINESS NEWS - The rand fell nearly 3% against the dollar on Thursday before recouping some lost ground as the political turmoil in the United States triggered an investor flight from riskier emerging currencies into safe-haven assets.
Most emerging markets currencies fell as uncertainty mounted over US President Donald Trump's future following reports that he tried to interfere with a federal investigation.
An exclusive Reuters report detailing interactions between major players in Trump's campaign and Russian officials is continuing to roil markets.
The rand was fetching 13.4350/dlr at 1540 GMT, 1.8% weaker than its closing levels in New York. It had scaled a three-week high of 13.0400 on Tuesday.
"The major fear of the markets at this stage is that the turmoil in the Trump administration will delay the much-hoped-for and little-seen stimulus," Rand Merchant Bank currency strategist John Cairns said.
