Geopolitical tension eased as President Trump signaled restraint on territorial expansion, triggering a broad risk-on rally across global markets. South Africa's rand surged to its strongest position in over three years, reflecting renewed investor appetite for emerging market assets. The move underscores how quickly shifting political narratives can reshape currency dynamics and capital flows. For traders monitoring macro conditions, this shift in risk sentiment often precedes ripple effects across commodities, equities, and crypto markets. When traditional markets enter risk-on mode, flows typically diversify beyond safe havens—a signal worth watching if you're tracking broader market psychology and emerging asset correlations.