Loading…
The rand weakened to about 16.50 to the dollar on Tuesday as a firmer dollar and a more hawkish Fed weighed on it. Fed funds futures priced a more than 80% chance of a rate hike by September.
Anti-immigrant groups set a June 30 deadline for undocumented foreigners to leave, and South Africa's leading business cycle indicator fell 1.8% in April.
Expectations of Fed tightening are lifting the dollar and pressuring emerging-market currencies. A weaker rand raises the cost of dollar-priced feed ingredients and fuel for South African buyers.
cnbcafrica.comReutersJun 23, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
