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USD/ZAR Drifts Higher, Mirroring Global Risk Sentiment

SOUTH AFRICA
  • USD/ZAR trades +0.37% higher this morning, tracking early price action in the BBDXY.
  • The cross rose +0.46% in yesterday’s session, failing to deliver fresh weekly lows in line with a firmer USD on the day despite a comeback in equities.
  • Thin liquidity continues to be a dominant factor across global markets with things getting quiet in the lead-up to Christmas. US 3QT GDP will be in focus today – expected to print flat across all metrics on prior readings.
  • USD/ZAR should continue to trade in line with global risk sentiment this week, due to a lack of data and limited newsflow.
  • Intraday Sup1: 15.8472, Sup2: 15.7657, Res1: 15.9742, Res2: 16.0373
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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