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The rand's direction depends heavily on US Federal Reserve policy, with domestic factors such as election polls playing a smaller role. Strategist Izak Odendaal said delays in US rate cuts mean South African local rates are also likely to stay higher for longer.
Higher-for-longer rates keep the dollar supported and the rand under pressure, which raises the local cost of dollar-priced feed and fertiliser imports.
businesstech.co.zaLuke FraserApr 16, 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.
