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South Africa's rand firmed on Monday, extending the previous week's gains, as the dollar gave back a rally that followed a stronger-than-expected US inflation reading. The rand traded at 13.7625 per dollar, with thin liquidity expected because of US and UK bank holidays.
A firmer rand lowers the local-currency cost of dollar-priced grain and oilseed imports, which can ease South African feed costs at the margin.
brecorder.comReutersMay 31, 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.
