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ZAR: ZAR/JPY Over 2.5% Lower Amid a Number of Rand Headwinds

ZAR
EM BulletBulletEmerging Market News

The South African rand remains among the worst performing global currencies as both deteriorating risk sentiment and rising political tensions domestically continue to weigh on the currency. See more on ANC/DA tensions here.

  • In addition to the DeepSeek-inspired sell-off for the major equity benchmarks, disappointing manufacturing PMI numbers out of China is likely acting as an additional tailwind for the rand, with broad-based weakness noted across the commodities space as well. The combined effects puts USDZAR 1.5% higher on the session, back above both the 20- and 50-day EMAs, while a 1.6% rally for EURZAR puts the cross at its highest since mid-September.
  • Meanwhile, outperformance of the Japanese yen across the G10 space has seen ZARJPY drop close to 3%. The cross has fully erased last week’s gains and is set for its worst performance since August, narrowing in on a 4-month low in the process.
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The South African rand remains among the worst performing global currencies as both deteriorating risk sentiment and rising political tensions domestically continue to weigh on the currency. See more on ANC/DA tensions here.

  • In addition to the DeepSeek-inspired sell-off for the major equity benchmarks, disappointing manufacturing PMI numbers out of China is likely acting as an additional tailwind for the rand, with broad-based weakness noted across the commodities space as well. The combined effects puts USDZAR 1.5% higher on the session, back above both the 20- and 50-day EMAs, while a 1.6% rally for EURZAR puts the cross at its highest since mid-September.
  • Meanwhile, outperformance of the Japanese yen across the G10 space has seen ZARJPY drop close to 3%. The cross has fully erased last week’s gains and is set for its worst performance since August, narrowing in on a 4-month low in the process.