{"id":11160,"date":"2012-06-06T10:57:00","date_gmt":"2012-06-06T08:57:00","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africas-rand-firms-for-third-day-vs-dollar\/"},"modified":"2012-06-06T10:57:00","modified_gmt":"2012-06-06T08:57:00","slug":"s-africas-rand-firms-for-third-day-vs-dollar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-firms-for-third-day-vs-dollar\/","title":{"rendered":"S.Africa’s rand firms for third day vs dollar"},"content":{"rendered":"

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

* Rand firm but still open to weaker levels<\/span><\/p>\n

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

* 2026\/2015 spread at over 200 basis points<\/p>\n

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

JOHANNESBURG, June 6<\/span> (Reuters) – The rand gained one percent
\nagainst the dollar in early Wednesday trade, strengthening for
\nthe third straight day from last week’s three-year lows on the
\nback of firmer commodity prices.<\/p>\n

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

Dealers said the currency was going through a natural
\npull-back from oversold levels at 8.71 last week but would be
\nlikely to encounter resistance at 8.30.<\/p>\n

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

The rand was up 0.8 percent at 8.3685 to the dollar
\nat 0605 GMT, off a 8.4350 close in New York on Tuesday.<\/p>\n

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

“We are pleased with the brief retracement we have seen –
\nit’s a long time overdue. Look to accumulate on the dips as the
\nglobal backdrop has not really improved,” said Brigid Taylor
\nfrom Nedbank.<\/p>\n

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

Investors’ fears about holding risky assets in the global
\nenvironment have decreased slightly but they are still buying
\nheavily into safe havens such as U.S. Treasuries, dealers said.<\/p>\n

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

“For now the rand remains open up to 8.60 with support at
\n8.23,” Taylor added.<\/p>\n

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

Investors will focus on Wednesday on a European Central Bank
\nrate decision. It is expected to hold back from policy moves but
\nmay indicate a readiness to cut interest rates as early as next
\nmonth.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Rand firm but still open to weaker levels * 2026\/2015 spread at over 200 basis points JOHANNESBURG, June 6 (Reuters) – The rand gained one percent against the dollar in early Wednesday trade, strengthening for the third straight day from last week’s three-year lows on the back of firmer commodity prices. Dealers said the […]<\/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-11160","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\/11160","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=11160"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11160\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}