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South Africa's rand, stocks and bonds fell on Thursday after election projections showed the ANC set to lose its parliamentary majority for the first time in 30 years. The rand fell more than 1% against the dollar at one point and traded near 18.59.
A coalition-dependent government raises uncertainty over fiscal and economic policy, which weakens the rand and raises the cost of dollar-priced feed imports for South African buyers.
reuters.comTannur Anders, Karin StroheckerMay 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.
