Loading…
The South African rand gained about 0.8% to 14.5750 per dollar after Federal Reserve Chair Jerome Powell said the US economy needed support for 'some time'. Those comments weighed on the dollar.
Local stocks fell 2.3% on the Johannesburg bourse, mirroring global equity declines before Powell spoke.
Ongoing Fed support tends to weaken the dollar, which supports emerging-market currencies and can ease import costs for feed buyers in those markets. The effect on feed prices is indirect and small.
brecorder.comReutersFeb 23, 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.
