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  • USD/ZAR trades higher at the open, broadly in line with early buying pressure on the Greenback into month-end.
  • Price action failed to hold below 13.70 in yesterday's session, and has drifted back towards 13.80.
  • Local economists warning USD/ZAR approaching oversold levels, and may see some profit-taking into the weekend.
  • However, strong fundamentals, macro tailwinds from continued firmness in CNH and a weaker USD continue to provide a supportive environment for ZAR.
  • Commodities easing slightly today: gold -0.38%, platinum -0.19%.
  • Covid cases continue to tick up, now back in the 4k/day range and Ramaphosa expected to address the nation on new lockdown measures shortly as concerns of a third wave increase. Intraday sup1: 13.7557, Sup2: 13.6780, Res1: 13.8163, Res2: 13.8931
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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