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The rand weakened in early trade on Monday as markets awaited President Ramaphosa's cabinet announcement, following the ANC's loss of its parliamentary majority. Nine parties have joined the ANC in a government of national unity, including the Democratic Alliance.
The benchmark 2030 government bond yield rose 4 basis points to 9.725%.
A weaker rand raises the local-currency cost of dollar-priced feed imports into South Africa. Global feed prices are not meaningfully affected.
brecorder.comReutersJun 24, 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.
