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USD/ZAR Drifts Higher, GDP & Local Politics on the Radar

SOUTH AFRICA
  • USD/ZAR opens higher on the back of a firmer dollar and weaker risk sentiment across APAC.
  • Commodities continue to ease lower: gold -0.12, platinum -0.36%, and the T40 index trades at -0.34%.
  • Local focus this week on SA GDP and internal political ructions over the Public Protector accentuating ANC factional divisions.
  • USD/ZAR remains biased higher after breaking the long-term bear channel pattern last week.
  • US treasury yields continue to cause an unwind in EM FX, and will be monitored closely this week with US CPI due Wednesday.
  • Intraday Res1: 15.5108, Res2: 15.6625, Sup1: 15.2625, Sup2: 15.2116
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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