# South African rand weaker as dollar creeps higher - Markets - Business Recorder

> The rand weakened on Tuesday as the dollar crept higher ahead of Fed Chair Powell's congressional testimony, and was about 1% weaker after steep losses the prior week. Johannesburg stocks were roughly flat and the 2030 government bond yield was unchanged at 9.065%.

- Date: 2021-06-22 · published 2021-06-22T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/46875-south-african-rand-weaker-as-dollar-creeps-higher-markets-business-recorder
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Currency moves tied to Fed rhetoric drive the cost of dollar-priced feed imports for South African buyers, though this is routine market movement with no new supply or demand driver.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40102157

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