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The rand weakened past R17 to the dollar as fears of a US recession mounted. Bloomberg scenario tools suggest similar conditions could push the rand down about 12%, and the market is heavily long rand, so it is exposed to a selloff.
Risk-off moves in the rand raise the local currency cost of imported feed ingredients, and a recession-driven dollar rally could push that cost higher still.
moneyweb.co.zaColleen Goko, BloombergJul 11, 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.
