{"id":10643,"date":"2012-05-08T12:54:34","date_gmt":"2012-05-08T10:54:34","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/s-africas-rand-a-tad-softer-bonds-also-weaken\/"},"modified":"2012-05-08T12:54:34","modified_gmt":"2012-05-08T10:54:34","slug":"s-africas-rand-a-tad-softer-bonds-also-weaken","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-a-tad-softer-bonds-also-weaken\/","title":{"rendered":"S.Africa&#8217;s rand a tad softer, bonds also weaken"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand dips as data shows lower forex reserves<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds weaker, auction to indicate market appetite<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> May 8 (Reuters) &#8211; South Africa&#8217;s rand weakened<br \/>\nagainst the dollar on Tuesday as data showed foreign exchange<br \/>\nreserves fell in April and continued worries about euro zone<br \/>\ndebt problems kept pressure on emerging market assets seen as<br \/>\ncarrying higher risk.<\/p>\n<p><span><\/span><\/p>\n<p>However, comments by Reserve Bank Governor Gill Marcus that<br \/>\nthe inflation trend suggests there is little room to cut<br \/>\ninterest rates should support the rand by attracting offshore<br \/>\ninvestors in search of yield.<\/p>\n<p><span><\/span><\/p>\n<p>By 0704 GMT the rand was trading 0.34 percent<br \/>\nweaker at 7.8265 against the dollar from Monday&#8217;s close at<br \/>\n7.80.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s a quiet start. We should see bids at the 7.80\/7.79<br \/>\nlevel. Buying dips is still the way to go after the sell-off we<br \/>\nhad yesterday,&#8221; said Jan Defouw, a trader at Standard Bank.<\/p>\n<p><span><\/span><\/p>\n<p>The unit was at 7.8150 before a central bank report at 0600<br \/>\nGMT showed South Africa&#8217;s net gold and foreign exchange reserves<br \/>\ndipped to $48.823 billion in April while gross reserves<br \/>\nfell to $49.942 billion.<\/p>\n<p><span><\/span><\/p>\n<p>The decline was due to foreign repayments made on behalf of<br \/>\nthe government, the Reserve Bank said. The Bank has previously<br \/>\nsaid it would take advantage of a stronger currency to boost<br \/>\nreserves, but insists it does not target a level for the rand.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds tracked the rand weaker, with yields for<br \/>\nthe three-year benchmark and the longer-dated 14-year<br \/>\npaper each adding two basis points to 6.445 percent<br \/>\nand 8.17 percent respectively.<\/p>\n<p><span><\/span><\/p>\n<p>A weekly government bond auction at 0900 GMT, where the<br \/>\nTreasury is offering 2.1 billion rand of paper, should give<br \/>\npointers on market appetite for South African debt.\t<\/p>\n<p> (Reporting By Tshepo Tshabalala; Editing by Stella Mapenzauswa)<\/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 dips as data shows lower forex reserves * Bonds weaker, auction to indicate market appetite JOHANNESBURG May 8 (Reuters) &#8211; South Africa&#8217;s rand weakened against the dollar on Tuesday as data showed foreign exchange reserves fell in April and continued worries about euro zone debt problems kept pressure on emerging market assets seen [&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-10643","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\/10643","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=10643"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10643\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}