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The rand slumped to a three-month low against the dollar on Monday, trading 1.4% weaker at 12.26 per dollar. Other emerging market currencies including the Russian rouble and Brazilian real also fell as the dollar rallied on rising US bond yields.
A weaker rand and stronger dollar move South African and emerging-market currency flows, with limited direct effect on feed grain prices but relevant to South African import costs and FX-linked commodity sentiment.
moneyweb.co.zaAlexander Winning, Nomvelo Chalumbira, ReutersApr 23, 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.
