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The rand weakened about 1% against the dollar on July 14 as prolonged power blackouts and expectations of a SARB pause weighed on sentiment. Analysts warned that a return to level 6 load shedding could weaken the currency further.
US inflation data had earlier pushed the dollar to its weakest since April 2022.
Power cuts that weaken the rand raise the dollar cost of imported feed ingredients for South African buyers, and they also hurt local processing and logistics.
reuters.comJul 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.
