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The rand weakened slightly early Tuesday as the safe-haven dollar held firm amid concerns over the Delta coronavirus variant. Ramaphosa has tightened COVID-19 restrictions for 14 days as South Africa faces a third wave of infections.
Virus-driven restrictions and a firmer dollar raise the local cost of imported feed inputs for South African buyers, though the effect on grain prices is small.
brecorder.comReutersJun 29, 2021Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
