# Rand on back foot after Fed rate signals - Moneyweb

> The rand traded at 17.20 per dollar on Thursday after US Federal Reserve Chair Jerome Powell said the central bank would deliver more rate hikes next year even as the economy slips toward possible recession. The dollar rose about 0.2% against a basket of currencies. South African producer inflation and employment data were due later the same day.

- Date: 2022-12-15 · published 2022-12-15T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/38516-rand-on-back-foot-after-fed-rate-signals-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Higher US rates strengthen the dollar and pressure emerging-market currencies like the rand, which raises the local cost of imported feed ingredients.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-on-back-foot-after-fed-rate-signals/

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