# South Africa's rand hits one-month low on hawkish Fed, stocks fall - Markets - Business Recorder

> The rand touched a one-month low of 14.16 per dollar on Thursday and South African stocks fell after the Fed unexpectedly brought forward its projections for interest rate hikes. Retail sales also fell 0.8% month-on-month in April.

- Date: 2021-06-17 · published 2021-06-17T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/46878-south-africa-s-rand-hits-one-month-low-on-hawkish-fed-stocks-fall-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

Fed-driven dollar strength reduces the appeal of carry trades into emerging market currencies, raising the local cost of dollar-priced feed imports for South African buyers.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2023-09-25 | [Sterling hits fresh multi-month lows on dollar and euro - Markets - Business Recorder](https://feedsoft.ai/events/34356-sterling-hits-fresh-multi-month-lows-on-dollar-and-euro-markets-business.md) | +0.6% | +1.4% |
| DXY | 2021-06-17 | [Yuan eases to 3-week low after Fed takes more hawkish outlook - Markets - Business Recorder](https://feedsoft.ai/events/7119-yuan-eases-to-3-week-low-after-fed-takes-more-hawkish-outlook-markets-business.md) | +1.1% | +1.7% |
| 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 | 2023-12-05 | [Most Asian FX, stocks fall after traders reconsider Fed rate cut bets - Markets - Business Recorder](https://feedsoft.ai/events/32968-most-asian-fx-stocks-fall-after-traders-reconsider-fed-rate-cut-bets-markets.md) | +0.4% | -0.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40100924

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