USD/ZAR reverses its course and drops below the 20-day SMA

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• USD/ZAR dropped below the 20-day SMA after peaking at a high near 19.150.
• South African CPI from September came in higher than expected as well as Retail Sales.
• Safe haven flows dominate markets, with focus shifting to geopolitics.

At the end of the week, the USD/ZAR trades with mild losses at 19.000, with the ZAR holding its foot driven by hot inflation figures reported on Thursday. On the USD side, it trades soft against its rivals, but a sour market good with investors turning their focus to tensions in the Middle East may reignite the green currency’s momentum.