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The rand chipped away at its long-standing undervaluation against the dollar after the Federal Reserve signalled it would keep policy loose and not taper soon. The currency outperformed most developed and emerging-market peers.
Analysts see USD/ZAR nearing a fair value near 14.0.
Continued rand gains would lower the local cost of dollar-priced feed imports. A Fed-driven dollar rebound would reverse this, so feed buyers face currency-driven price swings.
poundsterlinglive.comJames Skinner, Additional Editing by Gary HowesApr 29, 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.
