USD/ZAR outlook: South Africa’s unemployment at record high

USD/ZAR is trading higher after data showing that the unemployment rate in South Africa is at a record high. However, the pair remains on a downtrend.

USD/ZAR: Here’s why the rand has soared to a 2-year high

USD/ZAR is at its lowest level since January 2019 as a reaction to South Africa’s PPI data. The pair has dropped by 5.40% since the beginning of May.