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The rand has strengthened recently on rising gold prices and a weaker US dollar, according to Investec economist Annabel Bishop. Gold is South Africa's largest export, earning around $18 billion a year, and higher prices improve its terms of trade.
Bishop said US quantitative easing is driving portfolio inflows into emerging markets and lifting gold.
The rand move is driven by gold and dollar trends and has no direct effect on feed commodity supply, demand or prices.
poundsterlinglive.comNews, Data, ForecastsJul 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.
