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The rand gained about 0.4% to 14.2625 per dollar as the dollar sat near a one-month low. Treasury yields fell after the Federal Reserve said inflation spikes would be temporary.
Analysts expected carry-trade demand and a continued commodity rally to support the currency.
A firmer rand on a weaker dollar lowers the local cost of imported feed ingredients. Expectations of a commodity rally add some support for feed-input prices.
cnbcafrica.comReutersApr 19, 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.
