USD/ZAR Volatility Rises Amid Fed Rate Uncertainty, South Africa Holiday

Global forex markets experienced heightened volatility driven by increased risk aversion amid escalating conflicts in the Middle East. The USD/ZAR currency pair spiked early in the week before retreating, with trading volumes affected by South Africa's Youth Day holiday, reflecting broader uncertainty in global markets. Meanwhile, Bitcoin showed relative resilience despite the risk-off sentiment, with technical analysts optimistic about a potential breakout past $110,000 if it surpasses key resistance levels, supported by strong buying interest at pullbacks. The US Dollar faced resistance near the ¥145 level against the Japanese Yen, with analysts watching for a daily close above this area to signal a potential rally, though support around ¥142 remains critical. In Europe, the EUR/GBP pair is consolidating within a range, with no significant momentum to break below key supports, suggesting continued range-bound trading. Overall, market participants are closely monitoring geopolitical developments and technical signals for clues on the next directional moves across forex and cryptocurrency markets.