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The rand and South African stocks fell as investors priced in higher US interest rates and a stronger dollar, with the rand dropping to about R18.24 per dollar. Ongoing power cuts, with load shedding at stage 6, added to pressure on the currency.
Expectations of a firmer dollar and a weaker rand raise import costs for South African feed buyers. Power outages also strain domestic processing and logistics.
iol.co.zaSiphelele DludlaFeb 22, 2023Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
