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The rand has weakened about 1% against the dollar in July, pressured by Eskom's financial crisis and the strain on government finances. Expectations of a Federal Reserve rate cut on Wednesday have limited the losses as investors keep money flowing into high-yielding assets.
The rand's implied carry is at its highest since May 2018.
A weaker rand raises the local cost of imported feed ingredients priced in dollars, while a Fed cut could ease pressure on the currency.
moneyweb.co.zaColleen Goko, BloombergJul 31, 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.
