# Rand punches up – but remains on the back foot – BusinessTech

> The South African rand strengthened early on Tuesday as the dollar weakened on global markets. The move followed a fall in the dollar on US economic indicators pointing to possible further Fed rate hikes.

- Date: 2023-04-18 · published 2023-04-18T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/36689-rand-punches-up-but-remains-on-the-back-foot-businesstech
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The rand's move reflects dollar sentiment rather than any change in feed supply or demand. The effect on grain and oilseed prices is minimal.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- businesstech.co.za: https://businesstech.co.za/news/finance/681249/rand-punches-up-but-remains-on-the-back-foot/

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