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The rand firmed more than 1% against the dollar, trading at 13.355 per dollar, as the greenback slipped after the US Federal Reserve kept an mildly upbeat economic view but gave no sign of faster rate hikes. The move came in line with a broadly weaker dollar.
A firmer rand reduces the rand cost of dollar-priced grain and meal imports into South Africa. The move reflects dollar weakness and is unlikely to change underlying feed supply.
moneyweb.co.zaOlivia Kumwenda-Mtambo, ReutersFeb 2, 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.
