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The South African rand swung back and forth after the ruling party withdrew a 2016 land-reform bill that enabled expropriation of land without compensation. The rand erased earlier gains of up to 1%, trading back below 14 per dollar, as the party cited a constitutional review process.
Reduced near-term expropriation risk supports the rand, which lowers South African feed importers' dollar costs, though the constitutional process keeps uncertainty elevated.
markets.businessinsider.comGina HeebAug 28, 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.
