# South African rand hits 16-month high before Moody's review

> The South African rand hit a 16-month high ahead of a Moody's review after a weak US nonfarm payrolls report eased expectations of early US rate hikes. Emerging-market assets gained, and the rand traded at 14.0550 per dollar.

- Date: 2021-05-07 · published 2021-05-07T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/47379-south-african-rand-hits-16-month-high-before-moody-s-review
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Weaker US labour data that pushes down the dollar supports emerging-market currencies, lowering import costs for South African feed buyers.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-africas-rand-weakens-ahead-us-jobs-data-moodys-review-2021-05-07/

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