{"id":10207,"date":"2012-04-24T04:29:16","date_gmt":"2012-04-24T02:29:16","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/s-african-assets-finally-follow-other-em-currencies-lower\/"},"modified":"2012-04-24T04:29:16","modified_gmt":"2012-04-24T02:29:16","slug":"s-african-assets-finally-follow-other-em-currencies-lower","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-assets-finally-follow-other-em-currencies-lower\/","title":{"rendered":"S.African assets finally follow other EM currencies lower"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Rand weakens with other EM currencies vs dollar<\/span><\/p>\n

<\/span><\/p>\n

* Bond yields rise with prices depressed by global risk off
\ntrade<\/p>\n

<\/span><\/p>\n

JOHANNESBURG, April 23<\/span> (Reuters) – South Africa’s rand fell
\nnearly one percent against the dollar on Monday as emerging
\nmarket currencies were sold in favour of the safer dollar in a
\nrisk-averse environment, putting the rand back in line with its
\npeers after a week of out performance on domestic factors.<\/p>\n

<\/span><\/p>\n

The rand and government bonds had gained quickly last week
\nafter an announcement that South African debt was set to be
\nincluded in the Citigroup World Government Bond Index.<\/p>\n

<\/span><\/p>\n

The news kept the local market cushioned from global
\ndevelopments, but the effect had diminished on Monday with the
\nlocal unit down 0.9 percent against the dollar to 7.8820 in the
\nsession.<\/p>\n

<\/span><\/p>\n

It had balked near 7.80 resistance on Friday, ending at
\n7.8150 in New York.<\/p>\n

<\/span><\/p>\n

Analysts said the rand had rallied too quickly and a
\nbreather was expected, which could embed 7.80 as a barrier,
\nespecially as Europe’s troubled nations look to sap any
\nremaining appetite for risk this week.<\/p>\n

<\/span><\/p>\n

Yields on government bonds rose 7.5 basis points to 6.53
\npercent on the highly liquid 2015 note and 8.5 basis
\npoints to 8.185 percent on the R186 benchmark due in 2026
\n.<\/p>\n

<\/span><\/p>\n

A weekly auction on Tuesday added to the depressed
\nenvironment, as dealers sold to make space for auction stock.<\/p>\n

<\/span><\/p>\n

“I think the market is weakening a little in anticipation of
\nthe auction. Part of the driver for last week’s rally was
\noffshore real money buying on the back of the bond index
\ninclusion, we’ve seen foreigners sit on the sidelines today,”
\nsaid Daniel Sabiston adding the weak rand had also driven yields
\nhigher.<\/p>\n

<\/span><\/p>\n

Offshore accounts picked up 10.5 billion rand ($1.34
\nbillion) in local debt last week, the second largest weekly
\nbuying in over a year. ($1 = 7.8637 South African rand)\t<\/p>\n

(Reporting by Xola Potelwa; editing by Ron Askew)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand weakens with other EM currencies vs dollar * Bond yields rise with prices depressed by global risk off trade JOHANNESBURG, April 23 (Reuters) – South Africa’s rand fell nearly one percent against the dollar on Monday as emerging market currencies were sold in favour of the safer dollar in a risk-averse environment, putting […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10207","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10207"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10207\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}