In the daily outlook for Western FX, yen selling against the rand was cited as a supporting factor for the rand/yen exchange rate. The expected range was given as ¥9.40 to ¥9.60.
The daily outlook for the rand/yen indicated that yen selling against the rand would provide support. Market focus is on the performance of the rand-yen pair, and it was reported that market participants will continue to assess movements in the two currencies.
The expected range is ¥9.40 to ¥9.60, and the view is that developments going forward could fluctuate depending on additional information and economic indicators.