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The rand strengthened after the US Federal Reserve kept rates near zero and signalled no rate hikes until at least 2023. The rand broke below R16.25 per dollar as the dollar index fell.
A weaker dollar on Fed stimulus commitments lowers the local cost of dollar-priced feed imports in emerging markets, though the effect on commodity prices is modest.
news24.comMarelise van der MerweSep 16, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not 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.
