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The rand rallied on Thursday after US consumer prices rose 7.7% year on year in October, below expectations. The dollar index fell more than 1.6%, and the JSE All-Share index closed 1.5% higher.
Softer US inflation raises hopes of slower Fed tightening, which weakens the dollar and lowers the rand cost of dollar-priced grain and oilseed imports.
moneyweb.co.zaAnait Miridzhanian, Alexander Winning, ReutersNov 10, 2022Not 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.
