{"id":45413,"date":"2026-09-14T13:18:10","date_gmt":"2026-09-14T11:18:10","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=45413"},"modified":"2026-09-14T13:18:10","modified_gmt":"2026-09-14T11:18:10","slug":"rand-weakens-as-higher-oil-weighs-federal-meeting-looms","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/rand-weakens-as-higher-oil-weighs-federal-meeting-looms\/","title":{"rendered":"\u00a0Rand weakens as higher oil weighs, Federal meeting looms"},"content":{"rendered":"<div class=\"x_elementToProof\">The South African (SA) Rand edged lower in early trading on Monday as renewed supply disruptions in \u200bthe Middle East pushed oil prices higher, adding \u200cpressure on the currency, while investors looked ahead to the United States (US) Federal Reserve&#8217;s policy meeting later this week for clues on \u200bthe interest rate outlook.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">The Rand \u200btraded at 16.2350 against the Dollar, about 0.6% \u2060down from its previous close.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">Oil prices rose about 3% on \u200bMonday, as attacks on Saudi infrastructure and Gulf shipping deepened \u200bsupply concerns.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">This has weighed on the SA currency, as the country is a net importer of oil and therefore vulnerable \u200bto rising crude prices.<\/div>\n<div class=\"x_elementToProof\">Gold, SA&#8217;s key export, was \u200balso down 0.6% at $4,321.26 per Ounce.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">Investors are closely watching Wednesday&#8217;s \u200cFederal \u2060Reserve decision for clues on the interest rate outlook and whether pressure on the rand could intensify.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">&#8220;The more important signal on Wednesday won&#8217;t be the probability of \u200ba 25 basis \u200bpoints hike, \u2060it&#8217;ll be the guidance that follows, and whether Chairpesrson Kevin Warsh can convince markets \u200bthe Fed is still serious about fighting inflation \u200beven \u2060as oil drags it higher,&#8221; said ETM Analytics.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">On the Johannesburg Stock Exchange, the Top-40 index was last down 1.2% \u2060in \u200bearly trade.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div class=\"x_elementToProof\">SA&#8217;s benchmark 2035 government \u200bbond was slightly weaker in early deals, as the yield rose 5 \u200bbasis points to 8.785%.<\/div>\n<div class=\"x_elementToProof\"><\/div>\n<div>&#8211;Reuters&#8211;<\/div>\n","protected":false},"featured_media":34578,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-45413","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"","published_date":"","news_description":"South African Rand edged lower in early trading on Monday","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45413\/revisions"}],"predecessor-version":[{"id":45414,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/45413\/revisions\/45414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/34578"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=45413"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=45413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}