Loading…
The rand fell to a record low of 19.5148 per dollar, breaking the April 2020 low, as a diplomatic row between Pretoria and Washington raised concern about trade worth billions of dollars. Government bond yields rose sharply.
The currency later narrowed losses to 19.2337.
Risk to South Africa's trade with the US could reduce export earnings and dollar liquidity, weakening the rand and raising the cost of imported feed ingredients. The impact is mainly on currency and trade flows rather than global grain prices.
bloomberg.comRobert Brand, Selcuk GokolukMay 12, 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.
