# UPDATE 1-South African rand rallies in risk-on trade By Reuters

> The rand rallied on Monday as a risk-on mood lifted emerging markets after the US FDA authorised emergency use of COVID-19 convalescent plasma. The currency gained about 1.1% to 16.95 per dollar. Analysts said the rand has mostly moved with global sentiment and US dollar weakness.

- Date: 2020-08-24 · published 2020-08-24T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/51908-update-1-south-african-rand-rallies-in-risk-on-trade-by-reuters
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A stronger rand reduces the local-currency cost of imported feed grains and meal, though the move reflects global risk sentiment more than South African fundamentals.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- za.investing.com: https://za.investing.com/news/update-1south-african-rand-rallies-in-riskon-trade-2159303

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