South African rand weakens, focus on cabinet announcement By Reuters

JOHANNESBURG (Reuters) – The South African rand was weaker in early trade on Monday, as markets awaited President Cyril Ramaphosa’s cabinet announcement after the African National Congress lost its parliamentary majority in an election last month, the first time in 30 years. At 0556 GMT, the rand traded at 18.0075 against the dollar, about 0.22% weaker than its previous close. Nine parties…