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The rand recovered 0.7% to 14.14 per dollar on Friday after two days of heavy losses following a bleak budget, though it remained on track for a weekly loss of about 3.4%. Helping the currency were a report that Trump favours Jerome Powell for Fed chair, which eased dollar strength, and month-end dollar selling by exporters.
Currency swings tied to budget and rating risk keep South African import costs volatile. The rebound came from broader dollar weakness and month-end flows rather than a change in fundamentals, so price pressure on feed inputs is limited.
moneyweb.co.zaAlexander Winning, Nqobile Dludla, ReutersOct 27, 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.
