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The South African rand weakened in early trade on Monday, trading at 18.1650 per dollar, about 0.3% weaker, as the US dollar firmed. The dollar index was up about 0.3% at 112.14.
Traders were also watching the mid-term budget and risks including the UK leadership race and the Russia-Ukraine war.
A firmer dollar lifts the rand price of dollar-priced feed ingredients, which can pressure South African feed costs. The move is a routine intraday update with no new supply or demand change.
brecorder.comReutersOct 24, 2022Not enough comparable past events yet for a historical read.
Not 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.
