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The rand stayed above R19.00 to the dollar as markets pushed back expectations for the first US rate cut to Q4 2024, with some analysts seeing a risk of no cut this year. Investec noted that the rand historically strengthens during US rate-cut cycles, while Middle East tensions and local election uncertainty added pressure.
A weaker rand raises the rand cost of dollar-priced imports, including soymeal, corn and fertiliser, and can support local-currency feed prices if the currency stays weak.
stocks24.co.zaLiam ViljoenApr 22, 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.
