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The rand rose more than 1% on Monday to R16.42 per dollar as the US dollar sold off on signs of cracks in the US recovery. Analysts linked the move to expectations that the Federal Reserve would signal lower-for-longer rates at its meeting that week.
The rand had fallen to a one-week low of R16.80 the previous Friday after the South African Reserve Bank cut rates.
A weaker dollar and firmer emerging-market currencies have only indirect effects on feed commodity prices through dollar-denominated trade flows.
moneyweb.co.zaMfuneko Toyana, ReutersJul 27, 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.
