# South African Rand Sits Out Dollar Fire Sale as Europe Outperforms

> The rand posted its worst week since April against the dollar and sterling, underperforming as investors moved into European currencies. European currencies gained after the EU recovery fund and better growth prospects in Europe, while the dollar was sold heavily through the week. Analysts noted that the market was short dollars.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/52406-south-african-rand-sits-out-dollar-fire-sale-as-europe-outperforms
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Shifts in capital flows from emerging markets to Europe affect the broader dollar trend, which in turn influences dollar-priced grain and oilseed markets only marginally.

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/13816-south-african-rand-sits-out-dollar-fire-sale-as-fortune-fades-with-yields-and-europe-outperforms

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