The South African rand is ticking down on Tuesday.

The currency is lower by 0.5% at 13.7621 per dollar as of 8:11 a.m. ET.

The head of South Africa’s Treasury, Lungisa Fuzile, asked to leave his post at the end of the month, a year before his contract ends, Bloomberg’s Sam Mkokeli reported earlier, citing three people with knowledge of the matter.

On Monday, S&P cut South Africa to junk, which the agency said reflects its view that the divisions of the ANC-led government that have led to changes in leadership – including the recent sacking of the finance minister – have put policy continuity at risk. The rand dipped by about 2% after the news crossed.

As for the rest of the world, here’s the scoreboard as of 8:10 a.m. ET:

    The US dollar index is little changed at 100.65 ahead of a solid data day. The trade balance will be out at 8:30 a.m. ET before factory orders and durable goods are released at 10 a.m. ET. The British pound is down by 0.4% at 1.2435 against the dollar after construction PMI came in at 52.2 in March, below expectations of 52.4, and below the prior month's reading of 52.5. The euro is weaker by 0.2% at 1.0651 against the dollar after data showed that retail sales in the eurozone grew by 1.8% year-over-year in February, above expectations of 1.4%, and above the prior reading of 1.5%. The Russian ruble is down by 0.7% at 56.4498 per dollar, while Brent crude oil, the international benchmark, is lower by 0.6% at $53.45 per barrel.