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Goldman Sachs said the rand has underperformed its emerging-market peers through November despite a weaker dollar and supportive metals prices. The bank named the rand as a preferred long in its 2024 FX outlook, citing domestic developments as the cause of the underperformance.
Domestic issues weighing on the rand raise South African import costs for feed ingredients. The forecast of currency recovery would ease those costs if it materialises.
poundsterlinglive.comGary HowesDec 5, 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.
