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Global Factors to Drive USD/ZAR Ahead of DM PMIs

SOUTH AFRICA
  • USD/ZAR opens lower in line with a firmer APAC session, briefly retesting the 15.00 handle before pulling back to 14.9080 support.
  • Focus today remains on global factors with US & EU PMI data likely to dominate risk sentiment.
  • Bond inflows and continued optimism about the easing of restrictions should continue to help the cross stay heavy in the near-term, but will need to take out 14.90 decisively to make the next leg lower.
  • Sup1: 14.8221, Sup2: 14.7093, Res1: 14.9739, Res2: 15.0699
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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