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The rand weakened to a new 11-month low of R15.33 per dollar, with a session-worst of R15.45. Pressure came from local political uncertainty and the US-China trade standoff, after Trump said he was not ready to make a deal with China.
The rand had shed nearly 10% in two weeks.
A weaker rand raises the local cost of dollar-priced feed imports, and continued trade tensions keep emerging-market currencies under pressure.
moneyweb.co.zaMfuneko Toyana, ReutersAug 12, 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.
