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The rand firmed against the dollar on Monday as the dollar traded lower on expectations that interest rate hikes would moderate. The rand traded at 17.82 per dollar, about 1.41% stronger than its previous close.
The dollar index was down about 0.6% at 111.56.
A stronger rand lowers the local cost of dollar-priced feed ingredients for South African buyers. The move reflects dollar sentiment on rate expectations and does not change grain or meal supplies.
reuters.comOct 3, 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.
