# Rand hits 11-week high - Moneyweb

> The rand hit an 11-week high of R16.73 per dollar on June 5, its strongest since March 18. The move followed an unexpected fall in US unemployment in May and new European monetary stimulus. Local stocks also rose, with the All-Share index up 2.85%.

- Date: 2020-06-05 · published 2020-06-05T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/52914-rand-hits-11-week-high-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A stronger rand lowers the local cost of dollar-priced feed ingredients for South African buyers. The rally is driven by global risk sentiment and US labor data rather than grain fundamentals.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/markets/rand-gains-as-new-ecb-stimulus-lifts-risk-demand/

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