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The US dollar fell to a one-month low against a basket of currencies after Democrats won control of Congress in the midterm elections. The dollar index dropped 0.6% to 101.27 and the 10-year Treasury yield fell nearly 5 basis points.
The South African rand edged stronger to around R16.55 per US dollar, supported also by higher gold and platinum prices.
Gridlock in Washington and reduced expectations of rate hikes weaken the dollar, which lifts dollar-priced commodities and emerging-market currencies. For feed buyers, a weaker dollar can modestly support US commodity export prices in local-currency terms and make imports from South Africa and other emerging markets cheaper.
news24.comNov 4, 2026After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not 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.
