ZAR: Rand Extends Gains In Longest Winning Streak In Years

Spot USD/ZAR remains on a steep downward trajectory, losing ground for the ninth consecutive session (longest streak since Jan 2011) amid a positive risk environment. Today's move has been facilitated by a downtick in the BBDXY Index, with the greenback underperforming all its major peers. The rate last deals at 17.9568, around 650 pips lower on the day, and bears look for losses past Jun 21 low of 17.8689. On the flip side, bulls keep an eye on the 50-EMA (18.2990).

• SAGB yields are a tad lower, curve runs slightly flatter. South Africa's 10-year breakeven inflation rate is little changed at 5.59%. The National Treasury holds a linkers auction later today.
• The composite BBG Commodity Index has shed 0.2%, with the precious metals subindex sitting 0.2% higher.