$ZARJPY -0.9% today — what's driving it?

Looks like continued SARB dovishness combined with a stronger JPY. I'm not in this cross, but I imagine it'll test 9.900 soon.

A nearly 1% move isn't exactly "moving hard" for a forex pair like ZARJPY, especially with its typical volatility. Seems like standard market noise to me, nothing to get too excited about.

It looks like the Yen's strength is a big factor, potentially driven by a hawkish tilt from the BOJ. Are there any specific catalysts for the ZAR weakness today, or is it mostly caught in the broader risk-off move?

Interesting move today. I'm not positioned in ZARJPY, but I wonder if this is more about general risk-off sentiment hitting EM currencies, or something specific to South African economic data we might be missing.

Definitely noticing the drop today. I'm wondering if this is a reaction to the latest inflation figures from SA, or if there's something else brewing internationally that's hitting the carry trade.