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The rand firmed against the dollar, trading at 13.62 per dollar, after Fed Chairman Jerome Powell said US rates were just below neutral. Stocks fell, weighed down by Naspers and losses in rand hedge shares.
Investors were also watching a Trump-Xi meeting at the G20.
A firmer rand lowers the local-currency cost of dollar-priced imports for South African feed buyers. The move is driven mainly by US rate expectations, so the grain price impact is small.
moneyweb.co.zaNomvelo Chalumbira, Patricia Aruo, ReutersNov 29, 2018Not 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.
