The USD/ZAR began a correlated trading result with the broad Forex markets from the start of June and it has lasted until now – this as we get ready to start the month of July.
Inflation remains problematic in the U.S regarding data, but what is also troubling the Federal Reserve is the confidence levels of American consumers who continue to spend. Speculators who are trying to pursue the USD/ZAR should feel a sigh of relief given the ability of the currency pair to correlate to the broad Forex market the past month, this is a victory for the South African Rand and hopefully one that will continue.
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