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The rand weakened early on Thursday to R16.69 per dollar, about 0.88% below its prior close, as coronavirus cases kept rising in many countries. Government bond yields also rose, with the 2030 benchmark up 4.5 basis points to 9.310%.
Fed chair Powell said the US outbreak was weighing on economic activity while rates were held near zero.
The move reflects emerging-market currency sentiment tied to virus risk and Fed policy, with no direct change to feed grain or protein supply or demand.
moneyweb.co.zaOlivia Kumwenda-Mtambo, ReutersJul 30, 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.
