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The rand fell 0.8% to R18.31 per dollar, leading emerging-market currency losses, as delays in forming President Ramaphosa's cabinet fueled concern. South Africa's benchmark bond yield rose 12 basis points and stocks fell for a third day.
Traders worried that a prolonged delay could weaken the outlook for policy.
A weaker rand raises the local-currency cost of dollar-priced feed imports into South Africa. The impact on global feed prices is limited.
moneyweb.co.zaColleen Goko, BloombergJun 27, 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.
