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The rand rose 1.23% to 14.90 per dollar on March 11, 2021, its firmest level since March, after weaker-than-expected U.S. inflation data halted the rise in Treasury yields. Easing fears of a taper tantrum and an ECB bond-buying increase also supported risk appetite.
Softer U.S. inflation reduces pressure on the dollar and lowers the local cost of dollar-priced feed imports into South Africa. The effect on global feed prices is minor.
brecorder.comReutersMar 11, 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.
