# Rand bounces back after steep sell-off - Moneyweb

> The rand gained more than 1% against the dollar to R15.25 after a steep sell-off earlier in the month, which had cost it about 6%. The recovery followed stronger-than-expected US retail sales, easing fears of a US recession. Traders warned the rebound could be short-lived given debt concerns.

- Date: 2019-08-19 · published 2019-08-19T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/57881-rand-bounces-back-after-steep-sell-off-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A firmer rand modestly lowers local currency costs for dollar-priced imported feed, though traders expect the gain to be temporary.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-bounces-back-after-steep-sell-off/

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