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The South African rand weakened about 0.6% to 18.78 per dollar on June 29 as the dollar firmed on expectations of further Federal Reserve rate hikes. The dollar index hit a two-week high after US labour data showed a solid job market.
South Africa's producer inflation slowed to 7.3% in May from 8.6% in April.
A firmer dollar raises the rand cost of dollar-priced feed ingredients imported by South Africa, so local feed costs edge higher. The move is small and mainly reflects external rate expectations.
cnbcafrica.comReutersJun 30, 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.
