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The rand weakened 0.7% to R15.05 per dollar as a rally in riskier assets on US stimulus hopes faded. Analysts at Commerzbank said the rand remained vulnerable given weak domestic data and rising government debt.
A softer rand increases the cost of imported feed ingredients for South African buyers, and the move reflects broader emerging-market risk sentiment.
moneyweb.co.zaAlexander Winning, ReutersJan 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.
