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The rand fell 1.4% on May 9 as the dollar climbed to a two-decade high after the Federal Reserve's 50-basis-point hike. Eskom also resumed scheduled power cuts, which constrain economic growth.
A stronger dollar lifts the rand price of dollar-denominated imports, while power cuts weigh on South African demand. The currency move has little direct effect on global grain prices.
reuters.comMay 9, 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.
