{"id":11425,"date":"2012-06-13T11:13:46","date_gmt":"2012-06-13T09:13:46","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africas-rand-range-bound-eyeing-greek-polls\/"},"modified":"2012-06-13T11:13:46","modified_gmt":"2012-06-13T09:13:46","slug":"s-africas-rand-range-bound-eyeing-greek-polls","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-range-bound-eyeing-greek-polls\/","title":{"rendered":"S.Africa&#8217;s rand range bound, eyeing Greek polls"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Markets cautious ahead of Greek vote<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Range of 8.35-8.50 vs dollar seen for rest of week<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, June 13<\/span> (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nsteadied against the dollar on Wednesday and was expected to<br \/>\ntrade in a tight range ahead of a crucial weekend election that<br \/>\nwill determine Greece&#8217;s future in the euro zone.<\/p>\n<p><span><\/span><\/p>\n<p>At 0637 GMT, the rand ticked down to 8.391, largely<br \/>\nunchanged from Tuesday&#8217;s New York close of 8.39. The currency is<br \/>\nexpected to trade within 8.35 to 8.50 per dollar from now until<br \/>\nthe end of the week.<\/p>\n<p><span><\/span><\/p>\n<p>Since the start of the week, the unit has been buoyed by<br \/>\nCiti&#8217;s confirmation it will include South African debt in its<br \/>\nprestigious world bond index, opening the door for major<br \/>\nportfolio inflows.<\/p>\n<p><span><\/span><\/p>\n<p>But deepening concerns around the Greek election on June 17<br \/>\nthat would bring to power parties opposed to its current bailout<br \/>\nplans and force a disorderly exit from the single currency have<br \/>\nleft investors on edge.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Markets remain very cautious and tentative ahead of the<br \/>\nItalian auction this week as well of the Greek elections on<br \/>\nSunday,&#8221; said Brigid Taylor, head of institutional sales at<br \/>\nNedbank.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;A lot of position-flattening in the market is causing it to<br \/>\nbe relatively range-bound. We still like rand weaker, because we<br \/>\nthink there is a lot of contagion that still remains in the<br \/>\nsystem and uncertainty.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>If Greece were to leave the euro zone, emerging market<br \/>\ncurrencies such as the rand would be hit on a negative risk<br \/>\nsentiment.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on the benchmark bonds slid just one basis point to<br \/>\n6.22 for the three-year note and 8.29 for the 14-year<br \/>\nbond.\t<\/p>\n<p> (Reporting by Vuyani Ndaba; Editing by Ed Cropley)<\/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>* Markets cautious ahead of Greek vote * Range of 8.35-8.50 vs dollar seen for rest of week JOHANNESBURG, June 13 (Reuters) &#8211; South Africa&#8217;s rand steadied against the dollar on Wednesday and was expected to trade in a tight range ahead of a crucial weekend election that will determine Greece&#8217;s future in the euro [&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-11425","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\/11425","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=11425"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11425\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}