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The South African Reserve Bank kept its policy rate on hold, and the rand firmed slightly to 12.9075 per dollar in early trade. Commodity currencies were softer after oil fell on the OPEC extension.
A firmer rand lowers the local cost of dollar-priced feed ingredients, though the lack of a rate cut keeps domestic borrowing costs high for livestock producers.
moneyweb.co.zaMfuneko Toyana, ReutersMay 26, 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.
