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Rabobank says national politics is a major driver of emerging-market currencies, citing the rand's rally of about 6.8% against the dollar in the fourth quarter. Ramaphosa's reform agenda has reduced the risk of further ratings downgrades, though the ANC remains divided.
A stronger rand lowers South African import costs for dollar-priced goods. The effect on global feed commodity prices is minimal.
octaafrica.netDec 22, 2017Not 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.
