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The rand strengthened about 2% on Monday after Fitch and Moody's affirmed South Africa's investment-grade ratings. Emerging-market equities reached a two-week high as the dollar and US bond yields eased.
S&P's review was still pending, and the 2026 bond yield fell 21 basis points.
Avoiding a downgrade to junk limits capital outflows and keeps South African import costs for dollar-priced feed ingredients from rising. A downgrade would risk a sharp rand selloff.
moneyweb.co.zaClaire Milhench, ReutersNov 28, 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.
