{"id":11971,"date":"2012-06-30T00:03:35","date_gmt":"2012-06-29T22:03:35","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-africa-rand-surges-in-step-with-euro\/"},"modified":"2012-06-30T00:03:35","modified_gmt":"2012-06-29T22:03:35","slug":"s-africa-rand-surges-in-step-with-euro","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-surges-in-step-with-euro\/","title":{"rendered":"S.Africa rand surges in step with euro"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand follows stronger euro on renewed EU optimism<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Reduces year&#8217;s losses to 1.4 percent<\/p>\n<p><span><\/span><\/p>\n<p>* Bonds little changed in lacklustre session<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, June 29 (Reuters) &#8211; South Africa&#8217;s rand jumped<br \/>\nas much as 2.7 percent against the dollar on Friday, recording<br \/>\nit&#8217;s biggest daily gain since late November 2011 as renewed<br \/>\noptimism about a solution to Europe&#8217;s debt problems fired up<br \/>\nrisk appetite.<\/p>\n<p><span><\/span><\/p>\n<p>The currency was among the strongest five in a basket of 20<br \/>\nemerging market currencies watched by Reuters, shrugging off<br \/>\ndata showing South Africa&#8217;s trade deficit remained wide at 8.9<br \/>\nbillion rand in May, pointing to continued pressure on the<br \/>\ncurrent account.<\/p>\n<p><span><\/span><\/p>\n<p>The rand reached a session high of 8.1750 to the<br \/>\ngreenback, the firmest it has been since June 20, and was 2.66<br \/>\npercent firmer at 8.1777 by 1534 GMT compared with Thursday&#8217;s<br \/>\nclose.<\/p>\n<p><span><\/span><\/p>\n<p>The rand&#8217;s gains mirrored a rally in the euro, currency of<br \/>\nSouth Africa&#8217;s main trading partner bloc, which was on track for<\/p>\n<p><span><\/span><\/p>\n<p>its best day against the dollar in eight months after euro<br \/>\nzone leaders agreed on measures to stabilize banks and reduce<br \/>\nborrowing costs for Italy and Spain.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The market responded very well to the overnight news on EU<br \/>\ndebt crisis management. I think people are now expecting a bit<br \/>\nmore in the way of positive outcomes from the EU summit this<br \/>\nweekend,&#8221; said Roderick Ngotho, EMEA FX strategist at RBS.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand follows stronger euro on renewed EU optimism * Reduces year&#8217;s losses to 1.4 percent * Bonds little changed in lacklustre session JOHANNESBURG, June 29 (Reuters) &#8211; South Africa&#8217;s rand jumped as much as 2.7 percent against the dollar on Friday, recording it&#8217;s biggest daily gain since late November 2011 as renewed optimism about [&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-11971","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\/11971","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=11971"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11971\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}