{"id":10304,"date":"2012-04-26T16:32:31","date_gmt":"2012-04-26T14:32:31","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/s-africas-rand-at-3-12-week-highs-bonds-firm\/"},"modified":"2012-04-26T16:32:31","modified_gmt":"2012-04-26T14:32:31","slug":"s-africas-rand-at-3-12-week-highs-bonds-firm","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-at-3-12-week-highs-bonds-firm\/","title":{"rendered":"S.Africa&#8217;s rand at 3-1\/2 week highs, bonds firm"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand gains reflect dollar&#8217;s global weakness<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds edge up, yields dip lower<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, April 26<\/span> (Reuters) &#8211; South Africa&#8217;s rand clung<br \/>\nto 3-1\/2 week highs against the dollar on Thursday and<br \/>\ngovernment bonds edged firmer as prospects of interest rates<br \/>\nstaying depressed in the United States boosted currencies that<br \/>\noffer higher yields.<\/p>\n<p><span><\/span><\/p>\n<p>Producer inflation data due out at 0930 GMT should do little<br \/>\nto alter the market view that domestic interest rates will stay<br \/>\nunchanged this year as economic growth prospects remain fairly<br \/>\npositive while the inflation outlook is largely benign.<\/p>\n<p><span><\/span><\/p>\n<p>By 0643 GMT the rand traded 0.19 percent firmer at<br \/>\n7.7280 to the greenback compared with Wednesday&#8217;s close at<br \/>\n7.7420. It briefly touched 7.7250 earlier on Thursday, its<br \/>\nstrongest level since April 4, according to Reuters&#8217; data.<\/p>\n<p><span><\/span><\/p>\n<p>The dollar\/rand moves mainly reflected overseas trends, with<br \/>\nthe greenback on the ropes against major currencies after the<br \/>\nFederal Reserve signalled it would maintain a dovish policy<br \/>\nstance as the U.S. economy continues to struggle.<\/p>\n<p><span><\/span><\/p>\n<p>But persistent concerns about debt problems in the euro<br \/>\nzone, South Africa&#8217;s main trading partner by region, could cap<br \/>\nany significant further rand gains.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Simmering tensions in the euro zone are likely to come back<br \/>\nto haunt the euro, which we see weakening in the medium term,<br \/>\ndragging the rand down with it,&#8221; Standard Bank strategist<br \/>\nNomvuyo Guma said.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds edged up slightly in early trade, and<br \/>\nyields, which move inversely to the price, dipped.<\/p>\n<p><span><\/span><\/p>\n<p>The yields for the benchmark three-year and<br \/>\n14-year bonds each gave up a basis point to 6.485<br \/>\npercent and 8.205 percent respectively.<\/p>\n<p><span><\/span><\/p>\n<p>South African financial markets will be closed on Friday for<br \/>\nthe Freedom Day holiday and trading will resume on Monday.\t<\/p>\n<p> (Reporting by Stella Mapenzauswa, editing by Ed Stoddard)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand gains reflect dollar&#8217;s global weakness * Bonds edge up, yields dip lower JOHANNESBURG, April 26 (Reuters) &#8211; South Africa&#8217;s rand clung to 3-1\/2 week highs against the dollar on Thursday and government bonds edged firmer as prospects of interest rates staying depressed in the United States boosted currencies that offer higher yields. 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