# Rand softens as investors eye local politics - Moneyweb

> The rand softened early Monday, giving back some of Friday's gains after a weaker dollar lifted it to its firmest level in nearly a month. Investors were awaiting details of the ruling ANC's weekend meeting, where factions clashed over corruption and possible cabinet changes. Economists said politics could help the rand retest its July lows near R16.40.

- Date: 2020-08-31 · published 2020-08-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/51905-rand-softens-as-investors-eye-local-politics-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand lowers South Africa's cost of dollar-priced feed grain and meal imports, which can ease local buying pressure. The currency move is mostly driven by the dollar, so the effect on global feed prices is small.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-softens-as-investors-eye-local-politics/

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