{"id":11509,"date":"2012-06-15T11:23:20","date_gmt":"2012-06-15T09:23:20","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africas-rand-largely-flat-in-uncertain-trade\/"},"modified":"2012-06-15T11:23:20","modified_gmt":"2012-06-15T09:23:20","slug":"s-africas-rand-largely-flat-in-uncertain-trade","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-largely-flat-in-uncertain-trade\/","title":{"rendered":"S.Africa&#8217;s rand largely flat in uncertain trade"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, June 15<\/span> (Reuters) &#8211; South Africa&#8217;s rand was<br \/>\nlargely steady against the dollar on Friday and should stay<br \/>\nwithin in cautious trading ahead of a weekend election in<br \/>\ndebt-ridden Greece that will give a steer on its future in the<br \/>\neuro zone.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.3853 to the greenback by 0655<br \/>\nGMT, barely changed from Thursday&#8217;s close at 8.37 in New York.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We are seeing position-squaring going into the weekend.<br \/>\nEveryone is very much focused on Greece and the euro zone and<br \/>\nthere&#8217;s quite a lot of uncertainty,&#8221; Absa Capital trader Duncan<br \/>\nHowes said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Dollar\/rand will probably trade around the 8.35-45 range<br \/>\nand liquidity is going to be very light. I can&#8217;t see much volume<br \/>\ngoing through the market.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The rand has come under strain in recent weeks, hitting a<br \/>\nthree-year low of 8.71 on June 1 amid fears that the liquidity<br \/>\ncrunch facing some euro zone countries could spiral into a more<br \/>\nwidespread global crisis.<\/p>\n<p><span><\/span><\/p>\n<p>The uncertainty has hit the rand particularly hard among<br \/>\nemerging market currencies, because South African markets are<br \/>\nhighly liquid, making the country vulnerable to large portfolio<br \/>\ninflows and outflows during times of global volatility.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds had a fairly sedate start on Friday, with<br \/>\nthe yield on the benchmark three-year paper only<br \/>\ndrifting a basis point lower to 6.13 percent from its previous<br \/>\nclose, while that for the 14-year bond dipped 1.5<br \/>\nbasis points to 8.205 percent.<\/p>\n<p><span><\/span><\/p>\n<p>Demand for local debt is likely to be anchored by the<br \/>\ninclusion from October of l1 government bonds in Citigroup&#8217;s<br \/>\nreputable World Government Bond Index (WGBI), which traders say<br \/>\ncould potentially bring up to $9 billion of inflows into South<br \/>\nAfrica.\t<\/p>\n<p> (Reporting by Stella Mapenzauswa; 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>JOHANNESBURG, June 15 (Reuters) &#8211; South Africa&#8217;s rand was largely steady against the dollar on Friday and should stay within in cautious trading ahead of a weekend election in debt-ridden Greece that will give a steer on its future in the euro zone. The rand was at 8.3853 to the greenback by 0655 GMT, barely [&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-11509","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\/11509","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=11509"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11509\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}