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The rand strengthened in early trade as fears of an all-out war over Ukraine eased and attention turned to South Africa's national budget. The rand traded at 15.0272 per dollar, and a slew of sanctions on Russia suggested a full-scale war might be averted.
Easing geopolitical risk supports emerging-market currencies, which lowers the local cost of dollar-priced feed imports. The budget outcome is the next driver to watch.
brecorder.comReutersFeb 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.
