{"id":11717,"date":"2012-06-21T23:37:16","date_gmt":"2012-06-21T21:37:16","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/rand-dragged-down-by-weak-current-account-data\/"},"modified":"2012-06-21T23:37:16","modified_gmt":"2012-06-21T21:37:16","slug":"rand-dragged-down-by-weak-current-account-data","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rand-dragged-down-by-weak-current-account-data\/","title":{"rendered":"Rand dragged down by weak current account data"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand falls further in late trade against dollar<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Yields correcting from overstretched levels<\/p>\n<p><span><\/span><\/p>\n<p>* C\/Account deficit at biggest gap in over three years<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, June 21 (Reuters) &#8211; South Africa&#8217;s rand fell<br \/>\nagainst the dollar on Thursday, undermined by a disappointing<br \/>\ncurrent account number which signalled weak second quarter<br \/>\ngrowth and by soft U.S. data, with sagging commodity prices also<br \/>\nhitting the resource-heavy rand.<\/p>\n<p><span><\/span><\/p>\n<p>The unit fell to 8.3330 in the session.<\/p>\n<p><span><\/span><\/p>\n<p>It retreated late on Thursday from 8.15 resistance hit on<br \/>\nWednesday as the euro reacted to weak U.S. home sales and a<br \/>\ndownbeat business conditions survey, which signalled growth in<br \/>\nthe world&#8217;s biggest economy was stumbling, adding to<br \/>\nworse-than-expected domestic current account data.<\/p>\n<p><span><\/span><\/p>\n<p>The rand is also being battering by lower commodity prices,<br \/>\nespecially falling demand for platinum.<\/p>\n<p><span><\/span><\/p>\n<p>In its quarterly review on Thursday, the central bank said<br \/>\nmining production volumes contracted sharply in the first<br \/>\nquarter of the year due to lower demand and labour disputes in<br \/>\nthe industry, which produces 80 percent of the world&#8217;s platinum.<\/p>\n<p><span><\/span><\/p>\n<p>Swiss imports of the metal fell to their lowest in more two<br \/>\nyears in May.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand falls further in late trade against dollar * Yields correcting from overstretched levels * C\/Account deficit at biggest gap in over three years JOHANNESBURG, June 21 (Reuters) &#8211; South Africa&#8217;s rand fell against the dollar on Thursday, undermined by a disappointing current account number which signalled weak second quarter growth and by soft [&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-11717","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\/11717","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=11717"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11717\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}