# South African assets gain on rising hopes of market-friendly coalition

> The rand, South African stocks and government bonds gained on Monday as investors bet that the ANC would form a coalition with a market-friendly party after failing to win a majority. The assets had fallen the previous week on fears of a tie-up with more radical parties. The rand traded at 18.6225 per dollar, up about 0.8%.

- Date: 2024-06-03 · published 2024-06-03T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/30090-south-african-assets-gain-on-rising-hopes-of-market-friendly-coalition
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A stronger rand lowers the local cost of dollar-priced feed imports into South Africa. Global feed prices are not meaningfully affected.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/south-african-assets-gain-rising-hopes-market-friendly-coalition-2024-06-03/

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