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The rand recovered on Wednesday from its weakest level in a month after South African consumer inflation rose to 4.8% in August, below expectations. A treasury dollar bond issue worth $2.5 billion also supported the currency, and the central bank was due to decide on rates the next day.
A firmer rand after softer-than-expected inflation lowers the local cost of dollar-priced feed imports, although the expected rate cut points to weaker domestic currency conditions over time.
moneyweb.co.zaMfuneko Toyana, TJ Strydom, ReutersSep 20, 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.
