# Rand pummeled by floods and Covid amid hawkish Fed - Moneyweb

> The rand fell as much as 2.5% on April 21 to 15.4038 per dollar and was on track for its worst week since the pandemic began. Floods that may cost R10 billion, a possible Covid resurgence and rolling power cuts compounded pressure from hawkish Fed policy. Analysts say the rand is highly sensitive to higher US Treasury yields.

- Date: 2022-04-21 · published 2022-04-21T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/42126-rand-pummeled-by-floods-and-covid-amid-hawkish-fed-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Currency weakness in South Africa raises the local cost of imported feed ingredients, while the broader rise in US yields supports the dollar and pressures commodity prices.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/economy/rand-pummeled-by-floods-and-covid-amid-hawkish-fed/

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