The ZAR continued to trade within its weekly range after the SARB’s rate surprise and also this week’s US FOMC.
The ZAR retreated on the back of a lower than expected SARB rate hike and also stronger than expected US economic data.
The ZAR traded stronger to reach a 17.0900 on the back of improved Risk sentiment in New York.
The ZAR continued to range trade ahead of tomorrow’s SARB MPC and US GDP data release.
The ZAR consolidated above the R17/$ level, ahead of the SARB’s MPC rate decision on Thursday.
The ZAR reversed last week’s losses on Friday night on the back of improved Risk appetite on Wall Street.
The ZAR continued to weaken on the back of Risk off sentiment as Recession talk intensified at the Davos WEF conference.
The ZAR weakened on the back of Risk off sentiment, following calls of a global recession and more hawkish rhetoric from various Fed governors.
The ZAR remained above the R17/$ level ahead of today’s SA CPI and US PPI report.
The ZAR weakened aggressively in thin market conditions as traders booked profits and banks chased stops.