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The rand weakened as coronavirus worries combined with concerns about a possible Moody's sovereign downgrade and rising credit default swap costs. Investec put the odds of a downgrade at 50/50.
The rand underperformed its emerging market peers.
Domestic credit risk is adding to global risk-off pressure on the rand, which raises the local cost of imported feed ingredients.
za.investing.comJan 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.
