The South African Rand has been a huge mover this morning already in (very) early Asia
I have not seen nor heard any fresh news for it (apart from sports-related :-D )
Liquidity outside the majors is basically zero at this time of the trading week, and even for the majors it is very poor.
It doesn't take too much to trigger a run in a currency like the ZAR and it appears this move is flow driven. ZAR has hit a record low against the USD.
Its not as if this is a counter-trend move, the ZAR has been losing ground (along with other EMs and commodity currencies). Trends can have a tendency to go further and faster than pundits predict.
Cable, too has dipped a little just in the past few minutes, noithing like the same extent of course. ... UPDATE: I got some network issues here ... by the time I got this posted Cable is back up to earlier levels, it briefly dipped toward 1.4495 and is currently 1.4541 .... some wildness here today!
