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Bloomberg reports the rand plunged almost 10% against the dollar in August, its worst month in over five years. Traders are worried that the ruling party's push for land reform, including possible expropriation without compensation, could deepen the currency's losses.
Expected rand weakness raises the local cost of imported feed ingredients for South African buyers. The risk comes from domestic policy uncertainty layered on top of emerging-market contagion.
bloomberg.comPaul Wallace, Colleen Goko-PetzerSep 3, 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.
