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The rand rose 0.42% to 12.45 per dollar on Monday after S&P Global Ratings left South Africa's sub-investment-grade rating unchanged with a stable outlook. S&P expects growth to pick up in 2018 but flagged public debt above 50% of GDP.
Currency moves in South Africa have limited direct effect on feed grain prices, so this rating decision is a minor macro signal for importers.
moneyweb.co.zaMfuneko Toyana, ReutersMay 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.
