# Rand steady, focus on US stimulus talks - Moneyweb

> The rand steadied in early trade on Friday but was on track for weekly gains of more than 1.5%, as optimism about a US stimulus package kept high-yielding currencies in demand. Traders were focused on South Africa's medium-term budget due Wednesday, with a Reuters poll showing the fiscal deficit likely to widen further. The rand traded at R16.24 per dollar.

- Date: 2020-10-23 · published 2020-10-23T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/50926-rand-steady-focus-on-us-stimulus-talks-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Rand strength lowers the cost of imported feed ingredients for South African buyers, while expectations of a wider deficit point to currency risk ahead of the budget. The near-term price effect is small.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-steady-focus-on-us-stimulus-talks/

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