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The rand strengthened against the dollar on Thursday, rising about 1.3% to 18.74 per dollar after US July CPI came in at 3.2%, up from 3.0%. The rand was still down almost 5% for the month.
Markets priced a better-than-even chance that the Fed was finished with hikes this year.
Dollar weakness after the inflation print reduces rand costs for dollar-priced feed imports, but the rand remains weak for the month. US rate expectations continue to drive the currency.
cnbcafrica.comReutersAug 10, 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.
