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The rand held near a five-week high after South Africa avoided a double downgrade of its local-currency debt. Traders said the currency was pricing in a likely victory for Cyril Ramaphosa in the ANC leadership race.
Stocks fell on lower metal prices.
Political expectations for a market-friendly ANC leader are supporting the rand, which lowers the local cost of dollar-priced imports. The effect on feed prices is modest and depends on the leadership outcome.
moneyweb.co.zaMfuneko Toyana, Tiisetsto Motsoenneng, ReutersNov 28, 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.
