# Rand retreats as US-China tensions dim rate cut cheer - Moneyweb

> The rand weakened to 17.72 per dollar on Friday after rallying to its highest since March 27 the previous day. The South African Reserve Bank had cut its repo rate by 50 basis points to ease pressure from the coronavirus lockdown and expects the economy to shrink 7%. Rising US-China tensions over Hong Kong capped the rand's gains.

- Date: 2020-05-22 · published 2020-05-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/53441-rand-retreats-as-us-china-tensions-dim-rate-cut-cheer-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The SARB rate cut lowers the return on the rand, while escalating US-China tensions add currency volatility that affects South African import costs for feed.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-retreats-as-us-china-tensions-dim-rate-cut-cheer/

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