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USD/ZAR Rangebound as Bond Outflows Temper Downside

  • USD/ZAR flat at the open amid a quiet local scene.
  • Spot hovering above 15.2116 support, tracking broad $ & CNY sentiment.
  • Bond outflows may dampen ZAR optimism today after an initial bear flattener was reversed during yesterday's session and translated into further bear steepening today.
  • Bullish $ techs also keeping EM bulls on the cautious side.
  • Commodities mixed with gold -0.34% & Platinum +0.45% after a strong session yesterday.
  • Res1: 15.3174, Res2: 15.4599, Sup1: 15.2116, Sup2: 15.0718
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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