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The rand firmed on Tuesday alongside other emerging-market currencies, trading at R13.62 per dollar, after investors bet the US Federal Reserve would pause interest rate increases. Stocks also rose, with the Top 40 index up 1.3%.
Expectations of a slower US rate path weaken the dollar and support emerging-market currencies, which can ease import costs for South African buyers. The effect on feed grain prices is minor.
moneyweb.co.zaMfuneko Toyana, Emma Rumney, ReutersJan 29, 2019Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
