{"id":11826,"date":"2012-06-25T23:54:52","date_gmt":"2012-06-25T21:54:52","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africa-rand-at-3-week-lows-bonds-also-fall\/"},"modified":"2012-06-25T23:54:52","modified_gmt":"2012-06-25T21:54:52","slug":"s-africa-rand-at-3-week-lows-bonds-also-fall","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-at-3-week-lows-bonds-also-fall\/","title":{"rendered":"S.Africa rand at 3-week lows, bonds also fall"},"content":{"rendered":"

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

* Euro, weak trade stats weigh on rand<\/span><\/p>\n

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

* Rand vulnerable as Reserve Bank won’t intervene<\/p>\n

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

JOHANNESBURG, June 25<\/span> (Reuters) – South Africa’s rand fell
\nas much as 1.4 percent on Monday to a three-week low against the
\ndollar as uncertainty over euro zone debt undermined global
\ninvestors’ demand for riskier emerging market assets.<\/p>\n

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

Government debt also weakened, pushing the yield on the
\nbenchmark three-year bond up 6 basis points to 6.08
\npercent, pulling back further from a record low of 5.97 percent
\nhit last week.<\/p>\n

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

The longer-dated 2026 paper fell more heavily,
\nwith its yield rising nearly 10 basis points to 8.095 percent.<\/p>\n

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

The rand, one of the most heavily traded and freely
\nfloating of emerging market currencies, was at 8.5015 at 1505
\nGMT, its third straight session on the back foot as the euro,
\nthe currency of South Africa’s biggest trading partner, fell
\nagainst the dollar.<\/p>\n

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

Doubts over whether a European summit later this week will
\nmake any headway in resolving the bloc’s debt crisis weighed on
\nthe single currency, and by extension emerging market assets.<\/p>\n

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

“The rand is reacting in a normal way to the euro falling,”
\nsaid Murat Toprak, a regional currency strategist at HSBC.<\/p>\n

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

“But underperformance of the rand is more than usual,
\nbecause when you look at the other currencies within the Europe,
\nMiddle East and Africa region, the magnitude of the weakness is
\nnot that big.”
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Euro, weak trade stats weigh on rand * Rand vulnerable as Reserve Bank won’t intervene JOHANNESBURG, June 25 (Reuters) – South Africa’s rand fell as much as 1.4 percent on Monday to a three-week low against the dollar as uncertainty over euro zone debt undermined global investors’ demand for riskier emerging market assets. Government […]<\/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-11826","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\/11826","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=11826"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11826\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}