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The rand strengthened against the dollar, euro and pound after Statistics SA reported third-quarter GDP fell 6% year-on-year, less than the expected 7%. The rand moved from about R15.18 to R15.01 per dollar that day.
A firmer rand lowers the local cost of imported feed ingredients for South African buyers. The effect on global feed markets is negligible.
moneyweb.co.zaLarry ClaasenDec 8, 2020Not 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.
