# Rand on a winning run as interest rate cuts draw near – BusinessTech

> The rand pushed past R17.70 to the dollar on Monday 26 August after dovish comments from Fed Chair Powell at Jackson Hole. Investec's chief economist expects the rand to average R18.00 per dollar in the third quarter.

- Date: 2024-08-26 · published 2024-08-26T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/29090-rand-on-a-winning-run-as-interest-rate-cuts-draw-near-businesstech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Fed easing expectations are supporting emerging-market currencies, lowering import costs for dollar-priced feed ingredients, though analysts flag volatility risk tied to US data.

## Read by commodity

- DXY: bearish ▼
- USDZAR: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |
| DXY | 2023-12-14 | [Euro-Dollar Closing On 1.10 As ECB Resists Rate Cut Bets](https://feedsoft.ai/events/8300-euro-dollar-closing-on-1-10-as-ecb-resists-rate-cut-bets.md) | -1.3% | -1.3% |
| DXY | 2023-12-08 | [Dow surges to new record as Fed signals three rate cuts in 2024 \| CNN Business](https://feedsoft.ai/events/32472-dow-surges-to-new-record-as-fed-signals-three-rate-cuts-in-2024-cnn-business.md) | -0.9% | -1.1% |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |
| DXY | 2020-03-02 | [Dollar takes a back seat as markets bet on Fed rate cuts - The HinduBusinessLine](https://feedsoft.ai/events/6185-dollar-takes-a-back-seat-as-markets-bet-on-fed-rate-cuts-the-hindubusinessline.md) | -0.8% | +4.0% |

## Sources

- businesstech.co.za: https://businesstech.co.za/news/finance/788256/rand-on-a-winning-run-as-interest-rate-cuts-draw-near/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.