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South Africa's rand weakened 0.66% to 14.7925 per dollar on Monday as rising US 10-year Treasury yields, which touched one-year highs, dampened demand for risk assets. The currency had earlier reached a one-year high of 14.4050 but has retreated as investors reassessed US rate expectations.
Investors also held back ahead of South Africa's budget.
A stronger dollar against emerging-market currencies can make South African imports dearer and weigh on local feed costs, though the effect on global grain and feed prices is limited. The move is mainly a currency story with little direct effect on feed ingredient prices.
brecorder.comReutersFeb 22, 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.
