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Absa's currency strategist expects the rand to strengthen to 15.75 per dollar by year-end, arguing that much of South Africa's macroeconomic risk is already priced in. The rand was trading near 16.33 per dollar at the time, after falling to 19.35 in March.
An expected rand rally would lower South African import costs for feed ingredients, but the outlook is a forecast with no direct supply or demand change for feed commodities.
cnbc.comElliot SmithSep 16, 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.
