{"id":11069,"date":"2012-06-04T22:47:49","date_gmt":"2012-06-04T20:47:49","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-african-rand-regains-footing-but-bonds-end-weaker\/"},"modified":"2012-06-04T22:47:49","modified_gmt":"2012-06-04T20:47:49","slug":"s-african-rand-regains-footing-but-bonds-end-weaker","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-regains-footing-but-bonds-end-weaker\/","title":{"rendered":"S.African rand regains footing but bonds end weaker"},"content":{"rendered":"

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

* Rand recovers from 3-yr low but volatility lurks<\/span><\/p>\n

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

* Bonds weaker as investors anticipate more paper at auction<\/p>\n

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

JOHANNESBURG, June 4<\/span> (Reuters) – South Africa’s rand
\nrecovered its footing against the dollar on Monday after a rout
\nlast week as fears the euro zone could disintegrate abated, but
\na lack of a lasting solution to the region’s debt woes should
\nkeep investors largely risk-averse.<\/p>\n

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

The rand’s gains however failed to boost government bonds,
\nwith demand largely muted as market players anticipated the
\nissuance of 2.1 billion rand ($247.40 million) worth of paper at
\nTuesday’s weekly debt auction.<\/p>\n

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

The rand gained as much as 1.4 percent to a session
\nhigh of 8.4725 against the dollar and was at 8.5001 by 1622 GMT,
\nup 1.05 percent from Friday’s close at 8.59.<\/p>\n

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

The local unit had plunged to a three-year low of 8.71 to
\nthe greenback on Friday, stung by heightened fears of a global
\neconomic downturn after U.S. jobs data came in weaker than
\nexpected.<\/p>\n

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

Because South Africa’s markets are highly liquid, making it
\nvery easy for portfolio investments to flow in and out of the
\ncountry, the rand tends to bear the brunt of any volatility in
\nglobal markets.<\/p>\n

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

“All of the turmoil centred on the euro zone just delays any
\nrecovery, and will probably simply extend the prevailing reach
\nfor yield and the risk-on, risk-off dynamic in international
\nfinancial markets,” said Bruce Donald, head of rand strategy at
\nStandard Bank.<\/p>\n

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

“The news for the rand will likely get worse before it gets
\nbetter.”
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand recovers from 3-yr low but volatility lurks * Bonds weaker as investors anticipate more paper at auction JOHANNESBURG, June 4 (Reuters) – South Africa’s rand recovered its footing against the dollar on Monday after a rout last week as fears the euro zone could disintegrate abated, but a lack of a lasting solution […]<\/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-11069","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\/11069","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=11069"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11069\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}