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USD/ZAR Makes New 3wk High as Outflows Weigh on ZAR

SOUTH AFRICA
  • USD/ZAR at a 3-week high after moving through 15.0998 resistance - led higher by a reversal in local rates and USD strength
  • Sell side favouring other more clear cut EM FX plays line RUB, TRY & BRL
  • with substantial outflows noted in ZAR assets on suspected position squaring in yesterday's session
  • Next Res: 15.2134
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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