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USD/ZAR has continued to trade lower ahead of tomorrow’s US CPI, buoyed by Dollar weakness and rising commodity prices. Technical outlook remains bearish below 17.100.
Failure to hold above the 50-Day SMA (134.13) may lead to a larger correction if USD/JPY trades below the moving average for the first time since March.
Despite the Bank of England hiking at the fastest pace in over a decade, Cable is on course for its worst quarterly performance since Q1 2020.