{"id":11617,"date":"2012-06-19T11:34:59","date_gmt":"2012-06-19T09:34:59","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africa-rand-steadies-bonds-ease-ahead-of-auction\/"},"modified":"2012-06-19T11:34:59","modified_gmt":"2012-06-19T09:34:59","slug":"s-africa-rand-steadies-bonds-ease-ahead-of-auction","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-steadies-bonds-ease-ahead-of-auction\/","title":{"rendered":"S.Africa rand steadies, bonds ease ahead of auction"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, June 19<\/span> (Reuters) &#8211; South Africa&#8217;s rand held<br \/>\nsteady against the dollar in early Tuesday trade but remained<br \/>\nvulnerable to global investor jitters over the euro zone debt<br \/>\ncrisis which pushed the currency to three-year lows at the start<br \/>\nof this month.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The currency appeared unfazed by news that South Africa had<br \/>\ncommitted $2 billion of its reserves towards a $456 billion IMF<br \/>\nfund to deal with the effects of the euro zone woes on the<br \/>\nglobal economy.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds were a touch softer ahead of a weekly<br \/>\nauction likely to add 2.1 billion rand ($251.8 million) of paper<br \/>\nto the secondary market.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on the three-year and 14-year benchmarks<br \/>\n each added one basis point to 6.12 percent and 8.155<br \/>\npercent respectively.<\/p>\n<p><span><\/span><\/p>\n<p>By 0647 GMT the rand was at 8.3005 against the<br \/>\ngreenback, little-moved from its previous day close of 8.29.<\/p>\n<p><span><\/span><\/p>\n<p>But sentiment remains wary despite a brief rally on Monday<br \/>\nafter a positive outcome to elections in debt-ridden Greece<br \/>\nwhich allayed some fears of a messy exit from the euro zone, a<br \/>\nkey trading partner for South Africa.<\/p>\n<p><span><\/span><\/p>\n<p>The rand, which is highly vulnerable to swings in risk<br \/>\nappetite because of the liquid nature of its market, has<br \/>\nsuffered some of the heaviest losses against the dollar among<br \/>\nemerging market currencies this year, hitting a trough of 8.71<br \/>\non June 1.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The rand has managed to maintain its recent gains and the<br \/>\nfirmer bias could remain intact in the short term,&#8221; Standard<br \/>\nBank strategist Nomvuyo Guma said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;However, with so much happening on the global front, the<br \/>\nrand remains at the mercy of offshore developments.&#8221;<br \/>\n ($1 = 8.3383 South African rand)<\/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 19 (Reuters) &#8211; South Africa&#8217;s rand held steady against the dollar in early Tuesday trade but remained vulnerable to global investor jitters over the euro zone debt crisis which pushed the currency to three-year lows at the start of this month. The currency appeared unfazed by news that South Africa had committed $2 [&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-11617","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\/11617","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=11617"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11617\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}