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The South African rand was 0.1% weaker at 15.34 per dollar early on Friday, giving back some of the previous day's gains. Traders were positioning for a possible retest of 15.50, with local trade and budget data due later in the session.
Sentiment toward emerging markets remained negative amid the US-China trade stalemate and Argentina's debt crisis.
A weaker rand raises the cost of rand-denominated imports, and South Africa is a feed-importing market, so the move slightly lifts the local cost of imported feed inputs.
moneyweb.co.zaMfuneko Toyana, ReutersAug 30, 2019Not 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.
