Loading…
The rand softened early Monday, giving back some of Friday's gains after a weaker dollar lifted it to its firmest level in nearly a month. Investors were awaiting details of the ruling ANC's weekend meeting, where factions clashed over corruption and possible cabinet changes.
Economists said politics could help the rand retest its July lows near R16.40.
A firmer rand lowers South Africa's cost of dollar-priced feed grain and meal imports, which can ease local buying pressure. The currency move is mostly driven by the dollar, so the effect on global feed prices is small.
moneyweb.co.zaMfuneko Toyana, ReutersAug 31, 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.
