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ZAR: ZAR/JPY Deepens Losses on Post-Data Equity Weakness

ZAR
EM BulletBulletEmerging Market News
  • The most recent weakness for major US equity indices is putting some pressure on emerging market currencies, helping lift USDZAR roughly 0.9% off session lows to a fresh weekly high above 18.2250. Today’s gains keep the focus on the post-election high of 18.3951 ahead of the 18.50 handle, while initial support lies some way off at 17.9754, the 20-day EMA
  • Owing to the sharp pullback in USDJPY, the rand’s losses versus the Japanese currency have been more pronounced today. ZARJPY is around 1.2% lower on the session and at its lowest level since early October, sitting an impressive ~6% lower compared to the post-election highs.
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  • The most recent weakness for major US equity indices is putting some pressure on emerging market currencies, helping lift USDZAR roughly 0.9% off session lows to a fresh weekly high above 18.2250. Today’s gains keep the focus on the post-election high of 18.3951 ahead of the 18.50 handle, while initial support lies some way off at 17.9754, the 20-day EMA
  • Owing to the sharp pullback in USDJPY, the rand’s losses versus the Japanese currency have been more pronounced today. ZARJPY is around 1.2% lower on the session and at its lowest level since early October, sitting an impressive ~6% lower compared to the post-election highs.