USD/ZAR breaks 16.00
The South African rand is under heavy pressure today as commodity prices sink. USD/ZAR has climbed a whopping 5% in the past two sessions.
The question I'm asking myself: Are we headed back to the commodity (and commodity currency) doldrums, or is this just a little hiccup ahead of the Fed?
I suppose the answer might depend on how hawkish the Fed is and how the next round of Chinese economic data goes.
