# South African rand jumps after U.S. inflation data | CNBC Africa

> The rand strengthened against the dollar on Thursday, rising about 1.3% to 18.74 per dollar after US July CPI came in at 3.2%, up from 3.0%. The rand was still down almost 5% for the month. Markets priced a better-than-even chance that the Fed was finished with hikes this year.

- Date: 2023-08-10 · published 2023-08-10T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/34887-south-african-rand-jumps-after-u-s-inflation-data-cnbc-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Dollar weakness after the inflation print reduces rand costs for dollar-priced feed imports, but the rand remains weak for the month. US rate expectations continue to drive the currency.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- cnbcafrica.com: https://www.cnbcafrica.com/2023/south-african-rand-jumps-after-u-s-inflation-data

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