Loading…
The rand weakened about 1.1% against the dollar on Tuesday as the greenback recovered and President Zuma survived a push to make him step down. The ANC reaffirmed its backing for Zuma, and bond yields rose.
Analysts said emerging-market currencies were weighed by a stronger US GDP print.
A weaker rand lifts the rand cost of dollar-priced feed ingredients for South African buyers. The move reflects broad dollar strength as much as local politics.
moneyweb.co.zaMfuneko Toyana, Tiisetso Motsoeneng, ReutersNov 29, 2016Not 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.
