# Rand rallies as EU stimulus deal boosts risk demand - Moneyweb

> The rand rose more than 1% to R16.46 per dollar on Tuesday, its best level since June 10, in a broad emerging-market rally. The move followed EU leaders agreeing a 750 billion euro fund to support coronavirus-hit economies. Analysts said the rand was supported by a search for yield, though local fundamentals were weak.

- Date: 2020-07-21 · published 2020-07-21T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/52410-rand-rallies-as-eu-stimulus-deal-boosts-risk-demand-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The EU recovery fund lifts global risk appetite, but its effect on feed commodity prices runs through broader demand expectations rather than direct flows.

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-rallies-as-eu-stimulus-deal-boosts-risk-demand/

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