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The South African rand has lost nearly half its value since mid-2021 despite a yield advantage over the US. Technical analysis shows USDZAR in an uptrend channel, with a breakout above 19.20 expected to signal further gains toward 19.80.
The analysis points to continued rand weakness against the dollar, which would keep South African import costs for feed ingredients elevated.
marketscreener.comYves SanquerFeb 26, 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.
