Goldman Sachs warns of dire consequences for SA’s credit rating and the rand if Pravin Gordhan is removed from his post.
South Africa’s rand reached its weakest in more than four weeks against the dollar on Monday.
Economists expect the local markets to be guided by developments in the feud between the Hawks and Pravin Gordhan.
SA’s rand is on track for its biggest weekly drop since Nhlanhla Nene was axed in December last year.
Jacob Zuma and Cyril Ramaphosa expressed confidence in Pravin Gordhan - but their pledges did little to inspire the markets.
South Africa’s rand has been weighed down by lingering uncertainty over whether Pravin Gordhan faces arrest.
Bonds and the rand rally after President Jacob Zuma says he has “full confidence” in finance minister Pravin Gordhan.
The rand slumped and stocks tumbled as the stand-off between Finance Minister Pravin Gordhan and the Hawks intensified.
The dollar bobbed higher in Asia on Thursday, but major currencies continued to tread water.
The dollar shed 0.1 percent to 100.220 against the safe-haven yen amid a pullback in Tokyo stocks.
The dollar was up 0.5% at 100.760 yen on Monday, pulling further away from an eight-week low of 99.550 struck early last week.
SA’s rand was little changed in early trade on Wednesday ahead of political announcements of possible coalition governments in two key municipalities.
The dollar rebounded from seven-week lows against the yen on Wednesday after hawkish comments from Federal Reserve officials.
SA’s rand buoyed by continued investor appetite for high-yielding assets.
The dollar was caught in a narrow range on Tuesday ahead of US data due later in the session.