Loading…
Emerging-market currencies held up against a stronger dollar as optimism grew that US rate increases would slow. The South African Reserve Bank raised its benchmark rate for the first time in over two years, and the rand rallied.
Separately, the US and China failed to agree on a joint statement at an Asia-Pacific summit.
The rand's rally after the rate hike lowers the local-currency cost of dollar-priced feed imports. Continued trade tensions, however, keep currency and risk-asset swings elevated.
moneyweb.co.zaYumi Teso, George Lei, Alex Nicholson, BloombergNov 26, 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.
