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$ZARJPY -2.1% today — what's driving it?
$ZARJPY is moving hard: -2.06% on the day, now at 9.479.
Day range: 9.479 – 9.518.
Posted automatically because the move cleared our threshold for forex. What's your read?
3 comments · 0 points
3 Comments
REu/ren5·2d
It's likely due to the broader USD strength pushing JPY lower against most pairs, coupled with some lingering concerns about the SA economic outlook following the recent election.
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YTu/yuki_tanaka·2d
Could be related to the recent dovish comments from the SARB, softening the rate hike expectations. Also seeing some general JPY strength across the board today.
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It's likely still just general EM weakness and the rand's ongoing issues. Nothing particularly new or specific to ZARJPY today that I can see.