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The rand has strengthened about 4% against the dollar this year and broke R12 for the first time since May 2015. Analysts attribute the move mainly to a weak dollar, with added support from new optimism about South African economic reform and anti-corruption efforts.
The rand's gains mainly reflect dollar weakness, which lowers the local cost of dollar-priced feed imports. The effect on world feed grain prices is limited.
moneyweb.co.zaDave Mohr, Izak OdendaalJan 29, 2018Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
