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The rand slipped on Friday as a new COVID variant, named Nu by the WHO, spiked cases in South Africa, and as the dollar strengthened on prospects of a faster Fed shift. The UK imposed a travel ban on South Africa and five other African states.
Currency weakness and tourism and trade disruption add pressure on South African importers' costs. A broad risk-off move in markets can also weigh on commodity prices.
poundsterlinglive.comJames Skinner, Gary HowesNov 26, 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.
