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Familiar Themes in SAGB, ZAR Space

SOUTH AFRICA
  • South Africa’s local curve trades very modestly higher early Monday, in line with the generally risk-off tone evident across European assets following France’s first round election results released late yesterday.
  • In yield space, 10.00 & 10.60 remain the key pivot resistance points in the 10 & 30Y, while 9.80 & 10.40 are notable supports.
  • Meanwhile, USD/ZAR is edging higher to sit just below 14.70 – well off last week’s best levels at 14.8132. Key resistance remains defined at 14.85 & 14.99, while 14.50 & 14.3667 are major supports.

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