Rising oil prices and renewed tension around the Strait of Hormuz are increasing pressure on the rand as traders watch inflation and global risk sentiment.

The rand strengthened to its firmest level in weeks as hopes of a US-Iran breakthrough pushed oil prices below $100 a barrel, improving market sentiment and boosting expectations…

South Africa’s inflation outlook, rising oil prices and the South African Reserve Bank’s push toward a 3% inflation target are placing the rand under growing pressure.

Rising oil prices and renewed tension around the Strait of Hormuz are increasing pressure on the rand as traders watch inflation and global risk sentiment.

South African traders are increasingly using MetaTrader 5 to track gold, oil, the rand and global risk sentiment as markets react rapidly to geopolitical and economic shocks.

The rand strengthened as easing US-Iran tensions boosted global risk appetite and lowered pressure from rising oil prices.

South African traders are closely watching USD/ZAR as inflation risks, oil prices and SARB policy expectations keep the rand under pressure.