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The South African rand firmed on Tuesday, building on recent gains as investors sought high-yielding assets. Hopes that the US would finalise a new stimulus package, with Democrats and Republicans reportedly close to a deal, supported global risk appetite.
The rand was 0.27% firmer at 16.4750 per dollar.
A firmer rand on carry demand and risk appetite lowers the local-currency cost of imported feed ingredients for South African buyers. The move is driven by global sentiment rather than local supply, so the effect on feed prices is modest.
financialpost.comReutersOct 20, 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.
