BUSINESS NEWS - The rand extended losses against the US dollar on Tuesday as political tension ended the currency's recent rally to two-month highs. Stocks rose, with Nampak and Mr Price gaining.
At 1540 GMT, the rand traded at 13.0500 per dollar, 1.02% weaker than its New York close on Monday, as some traders took profits and a failed bid to remove President Jacob Zuma as head of the ruling African National Congress pulled shares lower.
The rand suffered on Monday after Zuma survived the call to step down over the weekend, and it has found little support since.
The rand dipped to a session low of 13.1600 before steadying, but it is expected to come under pressure after failing to consolidate last week's rally to below 12.95.
"Data risks are moderate today and will build up as the week progresses, but for now the main issue remains making sense of local politics," John Cairns, a currency strategist at Rand Merchant Bank, said in a note.
