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Goldman Sachs said the rand is heading for its biggest January gain against the dollar since Bloomberg began compiling the data, having risen about 5% so far this month. The bank remains constructive on the currency, citing a dovish Federal Reserve, growth and inflation trends, and government steps to stabilise Eskom.
Goldman's outlook points to continued rand strength, which lowers the rand cost of dollar-priced feed imports. Feed prices in South Africa are affected only indirectly, through currency translation.
moneyweb.co.zaRobert Brand, BloombergJan 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.
