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The rand breached R18 to the dollar on Monday, a record low, after Moody's cut South Africa to junk status on Friday. The 10-year R186 bond yield rose to 10.65%, and the rand was expected to stay vulnerable as emerging markets face acute risk aversion.
A record-low rand raises the local currency cost of imported feed ingredients and increases pressure on South African feed producers' margins.
sabcnews.comPreggie MoodleyMar 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.
