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The rand eased against the dollar to 13.78 after hitting a three-month high the previous session, when the South African Reserve Bank raised rates 25 basis points to 6.75%. Traders were watching US-China trade developments ahead of the G20 meeting.
Thin holiday trade was expected to limit volumes.
The rand's pullback after the rate hike reduces the near-term benefit of the tighter policy for dollar-priced imports. Currency swings like this affect the local cost of feed ingredients.
moneyweb.co.zaMfuneko Toyana, ReutersNov 23, 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.
