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The rand rallied on Monday as a risk-on mood lifted emerging markets after the US FDA authorised emergency use of COVID-19 convalescent plasma. The currency gained about 1.1% to 16.95 per dollar.
Analysts said the rand has mostly moved with global sentiment and US dollar weakness.
A stronger rand reduces the local-currency cost of imported feed grains and meal, though the move reflects global risk sentiment more than South African fundamentals.
za.investing.comAug 24, 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.
