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The South African rand slipped about 1% against a firmer dollar on July 29, trading near 18.48 per dollar. Markets were looking ahead to a US policy decision and rising concern over escalation in the Middle East after a rocket strike in the Golan Heights.
Risk-off flows into the dollar weaken emerging-market currencies, so a weaker rand raises the local-currency cost of South African imports and marginally affects feed-ingredient pricing in South Africa.
reuters.comJul 29, 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.
