(Sean Gladwell/Getty Images)
Over the past few weeks, as conversations have started and stalled, the reaction of the markets has fixated many people who have tried to draw granular links between currency movements and political events. The problem with such an approach is that it is premised on the habit of seeking to strip the intersectional and complex sum of events that influence currency movements, reducing the complexity to a simplistic model, says Khaya Sithole.
Over the past two weeks, as negotiators across the political spectrum sought to concoct a government out of the ANC’s new iteration of a broad church that involves essentially everyone except the ANC’s own biggest descendants. Various commentators have reflected on the capital markets’ reaction to the negotiation process.
Since the elections on 29 May and the resultant impasse created by the ANC falling below 50% for the first time since 1994, the focus has centred on which of its erstwhile competitors the ANC would partner with in order to form a government.
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