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The South African rand firmed about 0.7% against the dollar after subdued US jobs data raised bets that the Federal Reserve was done hiking and might start easing early next year. The dollar was little changed against a basket of currencies, and the rand traded near 18.84 per dollar.
A stronger rand lowers the local-currency cost of imported feed inputs for South African buyers, while the Fed outlook drives broader emerging-market currency flows. The direct effect on feed commodity prices is small.
reuters.comDec 6, 2023Not 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.
