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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
- A marked deterioration in risk conditions This week has propelled ZAR/JPY lower as the risk-proxy cross faced two-way drivers on JPY strength and acute ZAR weakness.
- ZAR has faced selling pressure on the back of weaker Chinese economic data, Expedited FOMC taper timelines and weaker risk sentiment lingering from the recent Cabinet reshuffle and social unrest
- Meanwhile, JPY's safe haven status has injected bullish momentum into the currency with markets reeling from broad-based risk-off
- Next supports seen at 7.00 (round number support) and 6.8963 (50% fib). RSI is now registering oversold, but is showing little sign of easing up with ZAR so vulnerable
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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