{"id":10494,"date":"2012-05-04T20:34:06","date_gmt":"2012-05-04T18:34:06","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/s-africa-rand-falls-vs-dollar-dealers-cover-shorts\/"},"modified":"2012-05-04T20:34:06","modified_gmt":"2012-05-04T18:34:06","slug":"s-africa-rand-falls-vs-dollar-dealers-cover-shorts","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-falls-vs-dollar-dealers-cover-shorts\/","title":{"rendered":"S.Africa rand falls vs dollar, dealers cover shorts"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand down over 1 pct , dealers cover dollar short<br \/>\npositions<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds weighed by weak currency, undercovered auction<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> May 4 (Reuters) &#8211; The rand lost more than 1<br \/>\npercent on Friday as investors covered short dollar positions on<br \/>\nrising risk aversion and South African government bonds fell as<br \/>\nan undersubscribed inflation-linked bond sale weighed on the<br \/>\nmarket.<\/p>\n<p><span><\/span><\/p>\n<p>The rand hit the week&#8217;s low in late trade, with dealers<br \/>\nsaying traders who had been short were buying back the dollar<br \/>\nafter a disappointing U.S. jobs report and data pointing to a<br \/>\ndeeper euro zone recession depressed demand for riskier emerging<br \/>\nmarket assets.<\/p>\n<p><span><\/span><\/p>\n<p>Rand buying this week had driven the currency to one-month<br \/>\nhighs.<\/p>\n<p><span><\/span><\/p>\n<p>By 1503 GMT, the rand was at 7.8161, down 1.04 percent<br \/>\nagainst the dollar.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There was quite a lot of rand buying this week and as such<br \/>\nthe market is short covering, especially since it started to<br \/>\nbreak up toward 7.80,&#8221; said Brigid Taylor, a trader at Nedbank.<\/p>\n<p><span><\/span><\/p>\n<p>A weekly auction of inflation-linked bonds was well<br \/>\nundersubscribed earlier in the session, surprising the market<br \/>\nand the first time since January that the Treasury had failed to<br \/>\nsell its planned amount of paper.<\/p>\n<p><span><\/span><\/p>\n<p>Only 390 million rand ($50.50 million) was taken up by<br \/>\ninvestors, out of 800 million rand on offer.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand down over 1 pct , dealers cover dollar short positions * Bonds weighed by weak currency, undercovered auction JOHANNESBURG May 4 (Reuters) &#8211; The rand lost more than 1 percent on Friday as investors covered short dollar positions on rising risk aversion and South African government bonds fell as an undersubscribed inflation-linked bond [&hellip;]<\/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-10494","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\/10494","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=10494"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10494\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}