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The rand extended gains to 13.92 per dollar after US midterm elections split Congress, reducing the chance of a near-term US fiscal stimulus. A survey showed South African business confidence rose for a second month in October.
The dollar index fell 0.57%.
A firmer rand lowers the local cost of dollar-priced feed imports. The move reflects US political and dollar dynamics more than any change in grain supply or demand.
moneyweb.co.zaNomvelo Chalumbira, ReutersNov 7, 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.
