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The South African Reserve Bank held its repo rate at 7.0% as expected, and the rand held steady after slumping in the days following Donald Trump's US election win. USD/ZAR had peaked near 14.65 and was trading near 14.14 when the report was written.
Analysts said future moves will depend more on US rate expectations than on local factors.
Rand stability limits the local price spike for dollar-priced feed imports. Future moves will hinge on the expected Fed hike, which could strengthen the dollar again.
finance.yahoo.comMartin Essex, MSTANov 24, 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.
