Rand extends gains as South African court orders publication of Gupta report

A court in South Africa has ordered the country’s public protector publish a report into state capture by the end of the day, helping the rand climb to its strongest level since August.
South Africa’s public protector office, which investigates complaints against government agencies and officials, has been investigating claims that the wealthy Gupta business family has undue influence over the government of Jacob Zuma.
Judges at North Gauteng High Court ordered the public protector “to publish the report forthwith and by no later than 17.00″ (3pm London time).
The currency has extended earlier gains made after lawyers representing Mr Zuma withdrew efforts to block the publication.
At publication time, the rand is up 1.6 per cent stronger, to ZAR13.39 per dollar.
The country’s benchmark 10-year government bonds have also climbed further, with yields (which fall when prices rise) down 13.7 basis points (0.137 percentage points), to 8.602 per cent.
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