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An analyst review says the rand's recent performance has been supported by rising commodity prices. It notes that commodity-exporting currencies including the Australian dollar, Brazilian real, Canadian dollar, Mexican peso and South African rand have gained against the US dollar since Russia's invasion of Ukraine on February 24.
The Dollar Index has risen since June 2021 on Fed tightening and safe-haven demand.
Stronger commodity exporter currencies can lower the cost of imported feed inputs for those countries. Currency strength tied to commodity prices can also signal continued firm export values.
ig.comShaun MurisonMar 31, 2022Not enough comparable past events yet for a historical read.
Not 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.
