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The rand strengthened about 1% against the dollar to around R16.45, in step with other emerging-market currencies. Traders expected a slower pace of US rate hikes compared with South African Reserve Bank tightening, which supports foreign inflows.
A firmer rand lowers the local cost of dollar-priced feed imports, so it is modestly supportive for South African feed buyers.
sabcnews.comSABC RadioJul 29, 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.
