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ZAR: Rand Regains Poise After 3% Sell-Off

ZAR
EM BulletBulletEmerging Market News

Spot USD/ZAR snaps a three-day 3% winning streak, shedding over 500 pips in morning trade to last sit at 18.3398. The focus on the downside falls on 17.6191, which limited losses on Dec 12. On the flip side, bulls look for gains towards Aug 5 high of 18.6850.

  • SAGB yields are a tad lower across the curve, with South Africa's 10-year breakeven inflation rate last seen at 5.46%.
  • The composite BBG Commodity Index operates 0.3% higher on the day, with the precious metals subindex last seen +0.4%.
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Spot USD/ZAR snaps a three-day 3% winning streak, shedding over 500 pips in morning trade to last sit at 18.3398. The focus on the downside falls on 17.6191, which limited losses on Dec 12. On the flip side, bulls look for gains towards Aug 5 high of 18.6850.

  • SAGB yields are a tad lower across the curve, with South Africa's 10-year breakeven inflation rate last seen at 5.46%.
  • The composite BBG Commodity Index operates 0.3% higher on the day, with the precious metals subindex last seen +0.4%.