# Rand: It’s not just about commodities - Moneyweb

> Bloomberg analysis found that the rand's correlation with industrial metals prices has weakened, while its inverse relationship with U.S. Treasury yields is near its strongest in four years. Foreign investors pulled more than $3.3 billion from South African markets so far in 2021.

- Date: 2021-03-10 · published 2021-03-10T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/48422-rand-it-s-not-just-about-commodities-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Rand moves are being driven more by U.S. rate expectations than by commodity prices, so commodity strength does not reliably support the currency. Currency swings affect the local cost of dollar-priced feed imports.

## Read by commodity

- USDZAR: neutral

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/south-africa/rand-its-not-just-about-commodities/

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