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South African Rand Weakness Persists Despite Broad USD Decline
South African Rand Weakness Persists Despite Broad USD Decline
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The South African Rand continues to underperform global peers, failing to capitalize on broad US dollar weakness. USD/ZAR approaches critical technical levels after a volatile April that saw the pair nearly touch 20.00 before retreating.
Persistent Rand weakness comes despite supportive conditions including gold price strength and USD softness. market participants attribute the underperformance to fading inflation pressures, which heighten expectations of SARB rate cuts.
The currency’s inability to rally in favorable conditions suggests structural vulnerabilities. Analysts warn sustained weakness could push USD/ZAR through the psychologically significant 20.00 level, potentially triggering algorithmic trading flows.
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