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The rand firmed in early trade after the US Federal Reserve raised rates by 75 basis points, as expected, and Chair Powell's comments eased worries about the pace of hikes. The rand traded at R16.67 to the dollar and the dollar index was near 106.3.
A softer dollar after the Fed decision reduces import costs for South African feed buyers, while a stronger rand can ease pressure on local feed prices.
moneyweb.co.zaBhargav Acharya, ReutersJul 28, 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.
