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The rand firmed more than 1% in early trade after US President Trump criticised Federal Reserve rate hikes, which pushed the dollar to its lowest since August 9. The rand had recently hit a two-year low amid the Turkish financial crisis, and traders saw its oversold momentum reversing.
A firmer rand lowers the local-currency cost of dollar-priced feed imports, though the move reflects a dollar pullback tied to Fed policy rather than a change in South African fundamentals.
cnbcafrica.comReutersAug 21, 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.
