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The rand traded stronger in early Tuesday trade at R18.86 per dollar amid US Treasury yield volatility and ahead of South Africa's leading business cycle indicator release. US Treasury yields had briefly topped 5% before pulling back.
A firmer rand lowers the local cost of dollar-priced grain and meal imports, though US yield volatility keeps the currency sensitive to rate expectations.
moneyweb.co.zaTannur Anders, ReutersOct 24, 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.
