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The South African rand strengthened to a fresh 13-month high of 17.63 per dollar on Friday, with an earlier low of 17.5950. Analysts link the gain to improved domestic supply conditions, with no rolling power cuts for over 150 days.
A firmer rand reduces the local cost of imported feed inputs priced in dollars, while the gain reflects expectations of a Fed rate cut next month.
cnbcafrica.comReutersAug 30, 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.
