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The rand was steady on 6 December after US nonfarm payrolls rose by 227,000 in November, a figure that increased bets on a Federal Reserve rate cut. The rand traded at about 18.01 per dollar.
Markets priced a nearly 90% chance of a 25-basis-point cut at the 18 December meeting.
US jobs data that increases rate-cut expectations tends to weaken the dollar, which supports emerging-market currencies and dollar-priced commodities. The effect on rand-linked feed costs is modest.
reuters.comDec 6, 2024Not 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.
