USDZAR Movement Post-CPI

Watching $USDZAR action this week, it's been interesting to see the range we're holding after the local CPI print. While the headline number was largely expected, the underlying core components still suggest a degree of sticky inflation. We've seen a bounce off the 16.40 handle, and it feels like the market is still digesting the implications for SARB's next move. I'm keeping a close eye on any hawkish leans from their upcoming statements; if we see a more aggressive tone, that 16.40-16.50 range could be tested for a breakout lower. Conversely, continued dovishness might see us retest the upper end of the recent daily range, perhaps pushing towards 16.50 again. It's a key level to watch for me this week.