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The rand posted its best day since 2017, firming 2.8% to R16.57 per dollar after the Federal Reserve's dovish tone pressured the US dollar. The JSE All Share index fell 1.43%.
The rand remained down about 15% against the dollar for the year.
A sharp rand gain lowers South Africa's dollar-linked feed import costs, while the stock market decline reflects local rather than agricultural factors. Effects on global feed prices are minimal.
businesslive.co.zaAug 28, 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.
