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The South African rand firmed early on Thursday to 12.92 per dollar as the dollar index slipped to its weakest since October. Traders cited weak US economic data and waning bets that Trump's fiscal stimulus would pass.
A stronger rand and weaker dollar shift the cost of South African-linked feed and grain imports and can ease pressure on local feed prices. The effect on grain futures is modest since the move is driven by offshore currency flows.
moneyweb.co.zaMfuneko Toyana, ReutersJun 29, 2017Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
