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The rand, South African stocks and government bonds gained on Monday as investors bet that the ANC would form a coalition with a market-friendly party after failing to win a majority. The assets had fallen the previous week on fears of a tie-up with more radical parties.
The rand traded at 18.6225 per dollar, up about 0.8%.
A stronger rand lowers the local cost of dollar-priced feed imports into South Africa. Global feed prices are not meaningfully affected.
reuters.comTannur AndersJun 3, 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.
