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The rand edged firmer early on Monday after S&P revised South Africa's sovereign outlook to positive from stable. The South African Reserve Bank had raised its key rate by 50 basis points the previous Thursday, its largest increase in more than six years.
The rating upgrade and tighter policy support the rand, which lowers the local cost of dollar-priced feed imports. The effect on feed prices is modest.
moneyweb.co.zaAlexander Winning, ReutersMay 23, 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.
