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Nedbank expects the South African rand to stay under pressure in 2024 until election and fiscal uncertainties are resolved. The bank said global factors such as Federal Reserve rate cuts could support the currency, with a possible recovery in the second half of the year.
A forecast of continued rand weakness would keep South African imported feed costs elevated in local currency terms. The outlook is a currency view with limited direct effect on global feed commodity prices.
moneyweb.co.zaNellie Peyton, ReutersJan 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.
