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The rand weakened to around R19.19 per dollar on Monday ahead of South Africa's repo rate decision and December inflation data. The currency had fallen sharply the prior week after investors pushed back expectations for a March US Federal Reserve rate cut.
A weaker rand raises the local currency cost of imported feed ingredients for South African buyers. The move reflects US rate expectations more than any change in feed supply.
reuters.comJan 18, 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.
