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The rand weakened about 0.8% to 14.18 per dollar on Tuesday, erasing the previous session's gains, as the dollar rallied after strong US consumer confidence and employment data. Spot gold fell 0.5% to $1,269.69 an ounce, while South Africa posted a narrower September trade surplus of R4 billion that did not reverse the currency's slide.
A weaker rand raises the rand cost of dollar-priced imports such as feed ingredients, while gold weakness reduces South African export earnings. The moves are a routine currency wrap with no major new supply or demand driver for feed markets.
moneyweb.co.zaMfuneko Toyana, Ed Stoddard, ReutersOct 31, 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.
