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The rand weakened to 13.31 per dollar after Fed Chairman Powell said the US was on track for years of steady growth, lifting the dollar. Traders awaited South African June inflation data and a Reserve Bank rate decision.
A firmer dollar and expected hawkish local policy shape emerging-market currency flows, affecting import costs for South African feed buyers; the impact on grain prices is limited.
moneyweb.co.zaMfuneko Toyana, ReutersJul 18, 2018Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
