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Watching ZARJPY - Divergence with Commodities?
The recent $ZARJPY movement, holding around 9.84828, has me thinking about its typical correlation with commodity cycles, specifically precious metals. We've seen $SLV pushing higher to 50.78 today, but the rand's strength, or lack thereof against the yen, isn't quite reflecting that robust commodity narrative one might expect. It makes me question if the market is pricing in something else for the ZAR, perhaps domestic factors or a nuanced view on global growth that isn't entirely aligned with the gold/silver rally.
1 comments · 1 points
That's an interesting observation regarding ZARJPY and SLV. Could it be that the market is more focused on interest rate differentials or broader risk sentiment right now, rather than just the commodity angle for the rand?