It is a cold current that originates in the Antarctic waters, and flows along the east coast of South America. The 30°S latitude forms its northern boundary. On its northern boundary it joins the Brazil Current and flows towards the east under the influence of the westerlies.
This combined current is called the West Wind Drift. Remember that the Falkland Current is also fed by the cold water that comes up at the surface by upwelling along the east coast of Argentina.
The upwelling of cold water from the deeper layers is caused due to the deflection of warm surface water of the Brazil Current towards the east.
Icebergs are brought by this current from the coastal regions of the Antarctica. The surface temperatures of this cold current are very low. The salinity is also low.