Despite a strong USD, the ZAR continues to show resilience due to positive sentiment surrounding the GNU and SARB conservatism. Meanwhile, the EUR weakened as the European Central Bank (ECB) cut rates for the third consecutive meeting by 25 basis points to 3%, citing sluggish economic growth with potential global trade frictions under a second Trump presidency weighing on the outlook. Diverging monetary policies between the Fed and ECB and the SARB and the ECB are expected to further support USD strength and ZAR gains against the EUR.