# Rand, stocks on backfoot as dollar rally hits gold - Moneyweb

> The rand fell as much as 1.7% on Wednesday as bets on a US rate hike in December lifted the dollar against emerging-market currencies. Spot gold slid to nine-month lows, and mining shares led losses on the Johannesburg exchange. The rand was among the five worst performers in a Reuters emerging-market basket.

- Date: 2016-11-23 · published 2016-11-23T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/74129-rand-stocks-on-backfoot-as-dollar-rally-hits-gold-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Expectations of higher US rates strengthen the dollar and raise the local cost of dollar-priced feed imports. Weakness in emerging-market currencies can also reduce South African demand for imported feed.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-stocks-on-backfoot-as-dollar-rally-hits-gold/

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