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The rand weakened more than 1 percent against the dollar on reports that President Zuma is considering a cabinet reshuffle. South African government bonds also sold off, with the 2026 benchmark yield rising 10 basis points.
Domestic political risk weakens the rand, which raises the local cost of imported feed inputs but has little direct effect on global grain prices.
moneyweb.co.zaOlivia Kumwenda-Mtambo, Tiisetso Motsoeneng, ReutersJan 30, 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.
