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The rand was on course for weekly gains of about 3% against the dollar, supported by Moody's decision to delay a credit rating review and by optimism over US-China trade talks. Moody's kept South Africa's sovereign rating at investment grade.
The rand traded at about 14.09 per dollar in early trade.
Keeping South Africa's last investment-grade rating supports foreign capital inflows and a firmer rand, which lowers the local cost of imported feed ingredients. The effect on agricultural prices is indirect.
moneyweb.co.zaNaledi Mashishi, ReutersApr 5, 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.
