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The rand weakened on Monday as protests in Chinese cities against zero-Covid restrictions weighed on global risk sentiment. Analysts warned that persistent zero-Covid policy could weigh on emerging markets into 2023.
Weaker Chinese growth prospects reduce expected demand for imported feed commodities and soften emerging-market currencies, which raises the rand cost of dollar-priced imports.
bizcommunity.comColleen Goko, Vaughan Croeser, Wilene van Greunen, Everlytic, Jonathan OladejiNov 29, 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.
