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The rand slid to about 18.005 per dollar on 13 February 2023, breaking above 18 for the first time since November 2022. Moody's had flagged that power blackouts threaten growth and social stability, and the dollar gained on bets that the Fed would stay tight.
A weaker rand and stronger dollar raise import costs for South African feed buyers. The effect on global grain and meal prices is minimal.
brecorder.comReutersFeb 13, 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.
