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The rand rebounded from early-week lows on July 1 as global risk appetite recovered, despite a better-than-expected GDP print. Investec expects the currency to stay on a volatile recovery path into year-end.
Investors had responded more to coronavirus trends in Florida than to domestic economic news.
A firmer rand lowers the local cost of imported feed ingredients and corn-based inputs priced in dollars. The gain depends on global risk sentiment, so it may reverse quickly.
poundsterlinglive.comJames SkinnerJun 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.
