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The South African rand weakened about 0.6% to extend losses to a fourth session, pressured by uncertainty over a $1.9 trillion US stimulus plan and South Africa's fiscal health. The Turkish lira gained after the IMF raised its 2021 growth forecast for Turkey to 6%.
Emerging-market currency weakness against the dollar lifts import costs for feed buyers in South Africa, and stimulus uncertainty affects the dollar's direction and commodity pricing.
financialpost.comReutersJan 26, 2021Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
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.
