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The South African rand weakened steadily in the week after the US election, moving from about R17.60 to over R18.40 per dollar at its low. The move was driven by a resurgent US dollar after higher-than-expected US inflation data, with local unemployment falling to 32.1%.
A weaker rand raises the local cost of imported feed ingredients and fuel. Continued dollar strength tied to US policy expectations could keep import costs elevated.
za.investing.comSable InternationalNov 20, 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.
