# South African rand pauses after Friday surge on Powell speech - Markets - Business Recorder

> The rand was flat early on Monday after a strong gain on Friday, when Fed Chair Powell said tapering could begin this year but would not directly signal rate hikes. Traders were also awaiting South African budget, trade and PMI data that week.

- Date: 2021-08-30 · published 2021-08-30T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/45846-south-african-rand-pauses-after-friday-surge-on-powell-speech-markets-business
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Currency moves tied to US policy expectations affect the rand's purchasing power for imported feed, but the move is small and does not change global feed supply or demand.

## Read by commodity

- USDZAR: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40116700

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