The Rand knee-jerked higher on headlines noting that President Cyril Ramaphosa has applied to the Constitutional Court for a legal review of the Section 89 report which found that there were grounds for launching an impeachment case against him. The move has been quickly retraced as Ramaphosa's lawyer had pre-announced the move over the weekend.

• ANC executive bodies are currently locked in meetings ahead of the parliamentary debate on the report slated for tomorrow. It is now expected that the ANC instructs its lawmakers to defend the President tomorrow, while the Speaker rejected a petition to vote by secret ballot.
• USD/ZAR trades at ZAR17.3390, down ~1,660 pips on the day, near the levels where it traded before the Ramaphosa headlines crossed the wires. EUR/ZAR changes hands at ZAR18.2605, down ~1,530 pips, with bears setting their sights on Nov 30 low of ZAR17.4869.