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The rand strengthened to 12.9850 per dollar on Tuesday, breaking through the 13.00 level to reach its strongest point in about four weeks. It recouped early losses caused by North Korea's missile launch over Japan, and gold miners rallied as bullion rose.
A firmer rand lowers the local-currency cost of imported feed inputs such as soybean meal and corn for South African buyers, so USDZAR is pressed lower. The effect on global grain prices is minimal.
moneyweb.co.zaTiisetso Motsoeneng, ReutersAug 29, 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.
