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The South African rand was stable on Tuesday against the dollar at 18.65, with investors convinced the US Federal Reserve will not raise rates again. The dollar was on track for a loss of more than 3% in November, its worst performance in a year.
A weaker dollar and firm rand support local currency purchasing power for South African importers of feed ingredients, with limited direct effect on grain prices.
reuters.comNov 28, 2023Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
