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The rand firmed ahead of a expected 75 basis point hike by the South African Reserve Bank, trading near 17.6 per dollar. Emerging market stocks neared 28-month lows after the Fed signaled faster US rate increases.
Aggressive Fed tightening and a possible SARB hike shape the currency backdrop for South African feed importers, though the effect on grain prices is indirect.
cnbcafrica.comReutersSep 22, 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.
