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The rand gained more than 1% against the dollar to R15.25 after a steep sell-off earlier in the month, which had cost it about 6%. The recovery followed stronger-than-expected US retail sales, easing fears of a US recession.
Traders warned the rebound could be short-lived given debt concerns.
A firmer rand modestly lowers local currency costs for dollar-priced imported feed, though traders expect the gain to be temporary.
moneyweb.co.zaOnke Ngcuka, Alexander Winning, ReutersAug 19, 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.
