# Rand weakens as dollar advances on hawkish Fed - Moneyweb

> The rand weakened in early trade on Wednesday as the dollar index rose toward two-decade highs after a hawkish comment from Chicago Fed President Charles Evans. South African equities fell more than 2% and the 2030 benchmark bond yield rose.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/39845-rand-weakens-as-dollar-advances-on-hawkish-fed-moneyweb
- 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

Continued dollar strength and rising local yields tighten financial conditions in South Africa, keeping import costs for feed ingredients elevated.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-31 | [Rand weakens against strong dollar as investors digest Fed’s hawkish stance](https://feedsoft.ai/events/40327-rand-weakens-against-strong-dollar-as-investors-digest-fed-s-hawkish-stance.md) | +0.9% | +3.6% |
| DXY | 2023-10-31 | [Rand weakens against stronger dollar; focus on mid-term budget - Moneyweb](https://feedsoft.ai/events/33915-rand-weakens-against-stronger-dollar-focus-on-mid-term-budget-moneyweb.md) | -1.4% | -2.9% |
| DXY | 2019-09-30 | [Rand weaker as investors seek shelter in dollar - Moneyweb](https://feedsoft.ai/events/57360-rand-weaker-as-investors-seek-shelter-in-dollar-moneyweb.md) | -0.2% | -1.4% |
| DXY | 2022-06-13 | [Rand drops as dollar rises on slowdown worries - Moneyweb](https://feedsoft.ai/events/41266-rand-drops-as-dollar-rises-on-slowdown-worries-moneyweb.md) | +1.0% | +2.9% |
| DXY | 2018-04-23 | [Rand hits 3-month low on soaring dollar - Moneyweb](https://feedsoft.ai/events/65802-rand-hits-3-month-low-on-soaring-dollar-moneyweb.md) | +0.9% | +3.3% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-weakens-as-dollar-advances-on-hawkish-fed/

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