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US Developments & PBOC Comments Push ZAR in Pre-Weekend Flows

SOUTH AFRICA
  • USD/ZAR trading 0.53% higher at the open, drifting toward the 15.2116 support break in yesterday's session.
  • US stimulus and dovish fed developments driving price action overnight and early today.
  • PBOC comments regarding keeping rates steady and expectations for cross-border capital flow volatility supporting a bit of weakness in CNY, mirrored in ZAR.
  • DXY looks to be struggling for traction below 90.40, with more $ selling likely to support a push lower in EM FX into the weekend, provided UST's remain pegged lower.
  • SARB in focus for next week.
  • Intraday sup1: 15.0718, sup2: 14.9991, Res1: 15.2116, Sup2: 15.2903
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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