Spread

USD/ZAR

Hourly spread (pips)

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• For USD/ZAR, the average spread in recent market conditions is about double the average spread in pre-COVID market conditions.
• In the recent market conditions, the average spread for USD/ZAR is highest around Sydney open. This is similar to pre-COVID market conditions.
• Spread in USD/ZAR increases sharply between 20:00 and 21:00 GMT (going into New York close) in the recent market conditions, relative to pre-COVID market conditions.
• In the recent period, the spread has generally tightened, relative to the COVID peak period.