{"id":11885,"date":"2012-06-27T11:59:34","date_gmt":"2012-06-27T09:59:34","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africas-rand-steady-as-investors-watch-politics\/"},"modified":"2012-06-27T11:59:34","modified_gmt":"2012-06-27T09:59:34","slug":"s-africas-rand-steady-as-investors-watch-politics","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-steady-as-investors-watch-politics\/","title":{"rendered":"S.Africa&#8217;s rand steady as investors watch politics"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand trades in a range, activity may pick up Thursday<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Results of Eskom bond auction at 0900 GMT<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, June 27<\/span> (Reuters) &#8211; South Africa&#8217;s rand was<br \/>\nsteady against the dollar early on Wednesday, moving in a narrow<br \/>\nrange as investors remained cautious about taking positions as<br \/>\nthey await the outcome of political domestic and international<br \/>\nmeetings later in the week.<\/p>\n<p><span><\/span><\/p>\n<p>The ruling ANC is in the second day of a policy conference<br \/>\naimed at clarifying its stance at issues such as mine<br \/>\nnationalisation and monetary policy.<\/p>\n<p><span><\/span><\/p>\n<p>European leaders are due to hold a summit on Thursday and<br \/>\nFriday to try and resolve the festering euro debt crisis.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was steady at 8.4335 to the dollar at 0635<br \/>\nGMT. The local currency closed at 8.42 on Tuesday, failing to<br \/>\ntest 8.45 support which would open up weaker levels.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We are back to around the week&#8217;s opening levels as<br \/>\nparticipants await more clarity from both the ANC policy<br \/>\nconference on the local front, as well as the EU summit on the<br \/>\ninternational front,&#8221; Absa Capital said in a note to investors.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;In the short term, the rand remains vulnerable to adverse<br \/>\ndevelopments in sentiment, either locally or abroad, and as a<br \/>\nconsequence, rand bulls are likely to remain in the shadows for<br \/>\nthe time being.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Dealers say a breach of the 8.35 level could spark further<br \/>\nselling and push the rand to 8.40.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand trades in a range, activity may pick up Thursday * Results of Eskom bond auction at 0900 GMT JOHANNESBURG, June 27 (Reuters) &#8211; South Africa&#8217;s rand was steady against the dollar early on Wednesday, moving in a narrow range as investors remained cautious about taking positions as they await the outcome of political [&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-11885","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\/11885","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=11885"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11885\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}