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The rand fell as much as 1.7% on Wednesday as bets on a US rate hike in December lifted the dollar against emerging-market currencies. Spot gold slid to nine-month lows, and mining shares led losses on the Johannesburg exchange.
The rand was among the five worst performers in a Reuters emerging-market basket.
Expectations of higher US rates strengthen the dollar and raise the local cost of dollar-priced feed imports. Weakness in emerging-market currencies can also reduce South African demand for imported feed.
moneyweb.co.zaTanisha Heiberg, Stella Mapenzauswa, Olivia Kumwenda-Mtambo, ReutersNov 23, 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.
