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The rand strengthened on Tuesday after Q1 South African GDP beat expectations and returned to pre-pandemic output levels. The rand traded at 15.3700 per dollar, about 0.45% stronger than the previous close.
Investors also remained cautious after a larger-than-expected Australian rate hike.
A firmer rand modestly lowers the local cost of imported feed ingredients. The move reflects domestic growth rather than a feed-specific supply or demand change.
reuters.comJun 7, 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.
