# South African rand tumbles on Fed, dismal domestic data - Markets - Business Recorder

> The rand fell more than 3% against the dollar on June 11, on track for its biggest daily drop since November 2016. The decline followed a bleak Fed outlook and dismal domestic data, and it was steeper than moves in other emerging-market currencies. Reuters tied the sell-off to a global risk-off move and the Reserve Bank's rate-cut plans.

- Date: 2020-06-11 · published 2020-06-11T12:00:00.000Z
- Category: macro · region South Africa · magnitude medium
- Page: https://feedsoft.ai/events/52911-south-african-rand-tumbles-on-fed-dismal-domestic-data-markets-business-recorder
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A sharp rand sell-off raises the local cost of imported feed ingredients priced in dollars. The move reflects broad emerging-market risk aversion rather than a change in grain supply.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/1003520

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