# Rand drops as dollar rises on slowdown worries - Moneyweb

> The rand fell about 1.2% against the dollar on Monday as safe-haven demand rose on fears of a global slowdown and expectations of steep US rate hikes. The dollar index rose to a four-week high, and the US two-year/10-year Treasury curve inverted for the first time since April. Local stocks also fell sharply.

- Date: 2022-06-13 · published 2022-06-13T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/41266-rand-drops-as-dollar-rises-on-slowdown-worries-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

Risk-off dollar strength raises the local cost of imported feed inputs and signals weaker global demand. The recession signal adds downside risk to commodity prices.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-09-28 | [Rand weakens as dollar advances on hawkish Fed - Moneyweb](https://feedsoft.ai/events/39845-rand-weakens-as-dollar-advances-on-hawkish-fed-moneyweb.md) | -1.8% | -1.5% |
| 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% |
| 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 | 2024-06-07 | [Dollar rises to highest in a month - Moneyweb](https://feedsoft.ai/events/8476-dollar-rises-to-highest-in-a-month-moneyweb.md) | +1.4% | +0.8% |
| DXY | 2017-07-11 | [Surging dollar pushes rand to R13.60/$ - Moneyweb](https://feedsoft.ai/events/70264-surging-dollar-pushes-rand-to-r13-60-moneyweb.md) | -1.1% | -1.6% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-drops-as-dollar-rises-on-slowdown-worries/

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