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The rand weakened on Monday to 19.05 per dollar, about 0.4% lower on the day. Concerns over China's economy and possible further US rate hikes weighed on it.
Analysts expected further falls on weak Chinese data, firmer US core producer inflation and higher bets on a September Fed hike.
Weak Chinese demand and expectations of higher US rates both pressure emerging-market currencies such as the rand, raising the local cost of dollar-priced feed imports. The effect on commodity prices is limited.
reuters.comAug 14, 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.
