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Measures of rand volatility have dropped below their long-term averages ahead of the May 8 general election. The currency has traded in a 50-cent range since March and is the best-performing emerging-market currency this month, up 2.4% against the dollar.
Nedbank warns that complacency is high and that volatility could rise as the vote approaches.
A sharp rand sell-off around the election would raise the cost of imported feed ingredients for South African buyers. The current calm is a currency-market condition rather than a change in grain or protein supply.
moneyweb.co.zaColleen Goko, BloombergApr 8, 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.
