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Capital Economics said the rand had rallied after hitting its weakest level against the dollar in more than a year following the Omicron variant news. The firm expects the currency to stay under pressure from domestic and external headwinds through much of 2022, even if Omicron does not trigger major new restrictions.
A persistently weak rand keeps dollar-priced feed and fertilizer imports expensive for South African buyers. The outlook implies continued upward pressure on USD/ZAR.
capitaleconomics.comJonathan PetersenDec 1, 2021Not 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.
