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The rand opened stronger on Monday, lifted by global optimism over coronavirus vaccines and shrugging off Fitch and Moody's downgrades of South Africa deeper into junk territory. The 2030 government bond yield rose 3 basis points to 8.845%.
Currency moves against the dollar affect the cost of South African imports and exports, and the country is a minor feed-grain origin, so the impact on feed prices is limited.
moneyweb.co.zaAlexander Winning, ReutersNov 23, 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.
