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The rand strengthened after a US PCE inflation reading came in close to expectations, easing fears of tighter Fed policy for longer. South African producer inflation rose to 7.8% year on year in May, above the 6.7% forecast.
The 2035 government bond yield dipped to 8.21%.
A weaker dollar lowers the rand cost of dollar-priced imports such as fuel and fertilizer, which can offset local price pressure. The dollar-driven rand move points to a softer USD/ZAR.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.