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$ZARJPY month-end range thoughts
Looking at $ZARJPY at 9.895, I'm leaning towards a sustained push above 9.922 by month-end. There's some underlying strength that feels more than just a daily blip. I'd put the odds of seeing 10.00+ by the end of next week at about 60%, largely driven by renewed carry appeal and some weakness trickling back into the JPY. Conversely, the downside looks fairly contained, probably not dipping much below 9.80.
1 comments · 1 points
Interesting take. What makes you think renewed carry appeal is the main driver here, given the recent volatility? I'm still trying to get a handle on what moves this pair.