{"id":10992,"date":"2012-06-01T22:30:53","date_gmt":"2012-06-01T20:30:53","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africas-rand-takes-a-dive-bonds-gain\/"},"modified":"2012-06-01T22:30:53","modified_gmt":"2012-06-01T20:30:53","slug":"s-africas-rand-takes-a-dive-bonds-gain","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-takes-a-dive-bonds-gain\/","title":{"rendered":"S.Africa&#8217;s rand takes a dive, bonds gain"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand weakens to three year lows<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds gain on a subdued inflation outlook<\/p>\n<p><span><\/span><\/p>\n<p>By Vuyani Ndaba<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, June 1 (Reuters) &#8211; South Africa&#8217;s rand plunged<br \/>\nto a three year low against the dollar on Friday as weak U.S.<br \/>\njobs data intensified fears of a global economic slump and sent<br \/>\ninvestors scurrying away from risky emerging market assets.<\/p>\n<p><span><\/span><\/p>\n<p>At 1529 GMT, the rand lost about 1.42 percent to 8.6021<br \/>\nagainst the greenback, earlier in the session the rand touched<br \/>\n8.71 against the dollar, its weakest level since May 2009.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Massive moves were really caused by outside influences once<br \/>\nagain,&#8221; said Jim Bryson, a trader at Rand Merchant Bank.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We started the day with the euro looking very soft, the<br \/>\nrand moved up on the back of that, although there is a general<br \/>\nrisk of tone to everything,&#8221; Bryson added.<\/p>\n<p><span><\/span><\/p>\n<p>Bonds gained on the possibility of interest rates cuts, the<br \/>\nthree year yield shed 4.5 basis points to 6.355<br \/>\npercent and that on the longer dated 14 year paper slid<br \/>\njust 1.5 basis point to 8.375 percent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The 157 tracks lower in yield on the concern of global<br \/>\ngrowth and the fact that inflation is falling not just<br \/>\ndomestically but internationally,&#8221; said Garth Klintworth, head<br \/>\nof fixed income commodities and currencies at Absa Capital.<\/p>\n<p><span><\/span><\/p>\n<p>Reserve Bank Governor Gill Marcus left interest rates<br \/>\nunchanged in May on the spillover effects of a bleak global<br \/>\neconomic outlook, but said that inflation would likely moderate.<\/p>\n<p><span><\/span><\/p>\n<p>The bank has kept rates steady for the past 18 months with<br \/>\neconomists expecting the repo rate to remain unchanged<br \/>\nthroughout 2012 as the central bank tries to stimulate a fragile<br \/>\neconomy against an increasingly turbulent global backdrop.\t<\/p>\n<p> (Reporting by Vuyani Ndaba; Editing by Toby Chopra)<\/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 weakens to three year lows * Bonds gain on a subdued inflation outlook By Vuyani Ndaba JOHANNESBURG, June 1 (Reuters) &#8211; South Africa&#8217;s rand plunged to a three year low against the dollar on Friday as weak U.S. jobs data intensified fears of a global economic slump and sent investors scurrying away from [&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-10992","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\/10992","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=10992"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10992\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}