ZARJPY reaction to SA CPI data

Saw that South African CPI came in a bit hotter than expected this morning, which explains the pop in $ZARJPY. It's now trading around 9.9432, having pushed through the day's high. This puts a bit more pressure on SARB to stay hawkish, at least in the short term.

I'm watching to see if this move sustains. While higher rates usually support a currency, global risk sentiment can override that for carry pairs like this. Definitely keeping it on the watchlist for potential dips if risk-off sentiment returns, but for now, it's holding up.