You can see if we put both the DXY and USD/ZAR next to each other how well they correlate at the moment. Both charts have retraced respectively giving a strong narrative that if the DXY respects the trend and moves higher, that USD/ZAR will follow suite. The South African economy has taken a huge knock this week due to extended Covid restrictions but more importantly, the looting of major retail enterprises. Yesterday South Africa released it's Retail Sales YY* results which came in at 15.8% which, when compared to the prior results of 95.7%, is insane. If you piece all of this information together then it is reasonable to assume that the Rand will continue to weaken against the Dollar for the foreseeable future.