# South African rand slips as traders await Fed chair, inflation data - Markets - Business Recorder

> The rand weakened against the dollar early on Wednesday as investors worried about global growth ahead of Fed Chair Powell's congressional testimony. The rand traded at 16.0050 per dollar and the dollar index rose 0.34% to 104.79. Markets were also awaiting May South African CPI, expected to rise to 6.2%.

- Date: 2022-06-22 · published 2022-06-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/41265-south-african-rand-slips-as-traders-await-fed-chair-inflation-data-markets
- 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

A weaker rand raises the local cost of imported feed ingredients, while a stronger dollar tends to pressure dollar-denominated commodity prices. Pricing effects are limited to currency moves.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-06-13 | [China’s yuan slips to 2-week low as dollar jumps on inflation data - Markets - Business Recorder](https://feedsoft.ai/events/41171-china-s-yuan-slips-to-2-week-low-as-dollar-jumps-on-inflation-data-markets.md) | +1.0% | +2.9% |
| DXY | 2023-02-13 | [South African rand slides as Moody’s flags risks, dollar gains - Markets - Business Recorder](https://feedsoft.ai/events/37623-south-african-rand-slides-as-moody-s-flags-risks-dollar-gains-markets-business.md) | +0.3% | +0.6% |
| DXY | 2021-06-29 | [South Africa's rand eases as virus fears grow - Markets - Business Recorder](https://feedsoft.ai/events/46873-south-africa-s-rand-eases-as-virus-fears-grow-markets-business-recorder.md) | +0.8% | +1.1% |
| DXY | 2021-06-24 | [Dollar rally sputters as Fed sends mixed signals on inflation - Markets - Business Recorder](https://feedsoft.ai/events/46844-dollar-rally-sputters-as-fed-sends-mixed-signals-on-inflation-markets-business.md) | +0.2% | +1.0% |
| DXY | 2023-09-26 | [Gold lacklustre as investors await more data for Fed rate clues - Markets - Business Recorder](https://feedsoft.ai/events/34012-gold-lacklustre-as-investors-await-more-data-for-fed-rate-clues-markets.md) | +0.8% | +1.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40181715

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