Loading…
The South African rand firmed early on Friday as the US dollar fell to a one-month low. The dollar index dipped to 101.43, its lowest since April 25, after minutes from the Federal Reserve's May meeting pointed to a possible pause in tightening.
A weaker dollar and firmer rand ease the local cost of dollar-priced imports such as feed ingredients and fertilizer. Dollar weakness also supports dollar-denominated commodity prices.
brecorder.comReutersMay 27, 2022Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
