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The rand weakened on Wednesday as comments from Fed Chair Yellen boosted bets on another US rate hike in December. Political wrangling over a possible bailout for South African Airways also dampened demand for the currency.
Stronger expectations of US rate hikes lift the dollar and raise import costs for South African feed buyers, while the rand's weakness adds to pressure on local-currency feed prices.
naija247news.comSub ZeroSep 27, 2017After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not 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.
