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The rand was little changed at 17.985 per dollar in early trade on July 24, with the market awaiting Fed and ECB decisions later that week. Rand Merchant Bank said the currency should trade weaker given the dollar's gains and emerging-market weakness the prior week.
The 2030 government bond yield was 10.335%.
Currency moves are driven by the coming central bank decisions, so a hawkish Fed could push the rand weaker and raise the local cost of dollar-priced feed imports.
cnbcafrica.comReutersJul 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.
