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The rand weakened 0.25% to 14.30 per dollar in early trade as markets digested Federal Reserve Chair Powell's defence of gradual rate hikes and signals of further increases. Separately, South Sudan resumed pumping 20,000 barrels per day from the Toma South oilfield.
Expectations of further Fed hikes support the dollar against emerging-market currencies, which raises the local-currency cost of dollar-priced feed imports into South Africa.
sabcnews.comSkhangiwe MthiyaneAug 27, 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.
