{"id":10784,"date":"2012-05-28T22:13:30","date_gmt":"2012-05-28T20:13:30","guid":{"rendered":"http:\/\/www.myza.co.za\/05\/s-africa-rand-climbs-bonds-soften-on-greek-hopes\/"},"modified":"2012-05-28T22:13:30","modified_gmt":"2012-05-28T20:13:30","slug":"s-africa-rand-climbs-bonds-soften-on-greek-hopes","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-climbs-bonds-soften-on-greek-hopes\/","title":{"rendered":"S.Africa rand climbs, bonds soften on Greek hopes"},"content":{"rendered":"

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

* Rand support at 8.45, firmer short-term trend seen<\/span><\/p>\n

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

* Bonds edge lower, foreigners sell local debt<\/p>\n

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

JOHANNESBURG<\/span> May 28 (Reuters) – South Africa’s rand climbed
\n1.5 percent against the dollar and bonds edged down on Monday on
\nrenewed hope for a solution to Greece’s problems, but the
\ncurrency later gave up some gains in thin trade as U.S. markets
\nwere closed.<\/p>\n

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

The rand climbed to a session high of 8.2754\/dollar
\nbefore retreating to 8.3480 by 1557 GMT, still up 0.7 percent
\nfrom Friday’s close at 8.4050.<\/p>\n

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

“It’s a dollar holiday today so the market is pretty
\nilliquid and fairly volatile,” Standard Bank trader Warrick
\nButler said. “We closed at 8.40 on Friday, so for us to move all
\nthe way down to 8.28 on a nothing day was a bit too much.”<\/p>\n

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

The rand has lost about 8 percent against the greenback this
\nmonth, stung by the possibility of a messy Greek exit from the
\neuro zone which has driven investors to safe-haven assets.<\/p>\n

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

But the local unit has repeatedly found support around 8.45
\nin the last couple of weeks, a level it also failed to breach in
\nmid-December, and technical analysts see a firmer trend for the
\ncurrency in the short term.<\/p>\n

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

“I’m looking for dollar\/rand to be rangebound at 8.20 to
\n8.45 over the next two to three days. (Greek) fears have
\nsubsided a bit so we could see a little bit of risk-on later in
\nthe week and we could still see 8.15 before the rand weakens
\nagain,” said Absa Capital technical strategist Judy Padayachee.<\/p>\n

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

Government bonds edged lower on Monday, and the yields for
\nthree year and 14-year benchmarks each added
\n1.5 basis points to 6.365 percent and 8.33 percent respectively.<\/p>\n

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

Data from the JSE securities exchange showed foreign
\naccounts were net sellers of local debt last week.<\/p>\n

(Reporting by Stella Mapenzauswa; Editing by Hugh Lawson)<\/p>\n

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

\n

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

* Rand support at 8.45, firmer short-term trend seen * Bonds edge lower, foreigners sell local debt JOHANNESBURG May 28 (Reuters) – South Africa’s rand climbed 1.5 percent against the dollar and bonds edged down on Monday on renewed hope for a solution to Greece’s problems, but the currency later gave up some gains in […]<\/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-10784","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\/10784","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=10784"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10784\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}