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The rand weakened for a third day on 29 May, breaking above its 13.20 to 14.80 trading range amid record foreign equity outflows of R13.3 billion. Investors reacted to the delay in President Ramaphosa's cabinet announcement and an MSCI index rebalancing.
Sharp currency depreciation raises the rand cost of imported feed and other inputs for South African livestock and feed buyers. The pressure is driven by domestic political and capital-flow factors.
moneyweb.co.zaColleen Goko, BloombergMay 29, 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.
