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South Africa's rand weakened about 1.4% to 14.5050 per dollar as weaker-than-expected Chinese factory indicators and strong US growth reduced demand for riskier currencies. The rand has failed to hold below the 14.20 technical level this week despite high yields.
Local growth concerns are also weighing on it.
A weaker rand raises the cost of rand-priced imports for South African feed and grain buyers. Softer Chinese manufacturing data also signals weaker demand for commodities.
reuters.comApr 30, 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.
