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The South African rand gained 0.4% to 18.51 per dollar on Tuesday ahead of a week of local and US data releases. Analysts said no local driver stood out, and the move followed lower US Treasury yields from the previous week's highs.
Local bond yields rose slightly.
The rand is tracking global dollar and US yield moves rather than local factors, so its direction mainly reflects Fed expectations. For feed buyers, currency swings affect South African import costs only indirectly.
cnbcafrica.comReutersAug 29, 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.
