Loading…
South Africa's rand slumped to a 28-month low on Monday, weakening to 18.10 per dollar as the safe-haven US dollar strengthened against major currencies. The move tracked other weakening emerging-market currencies after a hawkish FOMC meeting.
A weaker rand makes South African import demand for feed inputs costlier in local currency and reflects broader dollar strength that tends to pressure dollar-denominated commodity prices.
reuters.comSep 26, 2022Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, DXY 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.
