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USD/ZAR Directional Parameters Unchanged

SOUTH AFRICA
  • USD/ZAR continues to find resistance at the 14.3903 100-dma, with the Tuesday strength failing to top that level. The lower directional parameter is the 50-dma at 14.0336, which successfully provided some support at the tail-end of last week.
  • Implied vols have inched higher this week, with 1m contract now well off the late June lows of 12.6 points, although still below the June highs of 15.2.
  • The SA yield curve is ebbing lower, with 10s down 3.8bps at 9.249. Linker auction due on Friday sees 2033/2038/2050 lines sold.

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