South African Rand Tumbles To 7-Month Lows As Central Bank Governor Steps Down

South African Rand Tumbles To 7-Month Lows As Central Bank Governor Steps Down (ZeroHedge, Sep 18, 2014):

In a surprise for the market, South Africa’s Reserve Bank chief Gill Marcus has announced she will not be available for another term when her contract is up in November. On the heels of an expected decision to leave rates unchanged, this has sent the Rand tumbling to its lowest since February. While Marcus exporessed every confidence in her successor, it appears the market is less confident (for now). Forget the economy, sell ZAR because the true leader of the nation’s wealth is to step down…

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