Loading…
The rand traded at R14.69 per dollar ahead of the South African Reserve Bank rate decision, with markets expecting the repo rate to stay at 6.75%. Analysts flagged Moody's rating decision due Friday, with a downgrade to junk status seen as likely to trigger marked rand weakness.
Expected rand weakness on a possible Moody's downgrade would lift the local cost of imported feed ingredients, though the effect on global feed prices is limited.
ofm.co.zaOFM News DeskMar 28, 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.
