Aggressive moves in EUR/ZAR and GBP/ZAR saw multi-week lows posted, while USD/ZAR remains in its 16-day range. For EUR/ZAR, support is at the 100-day moving average at 11.44, and we are watching the 8.80 and 8.95 boundaries in USD/ZAR ahead of the event risk on the local front. Locally, Q4 12 GDP figures are released today, and the Budget speech is delivered tomorrow. Globally, we saw some risk-off moves yesterday, and our intraday range for USD/ZAR is 8.81-8.90.
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