{"id":12031,"date":"2012-07-02T12:10:48","date_gmt":"2012-07-02T10:10:48","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africa-rand-hits-1-12-week-high-vs-dollar\/"},"modified":"2012-07-02T12:10:48","modified_gmt":"2012-07-02T10:10:48","slug":"s-africa-rand-hits-1-12-week-high-vs-dollar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-hits-1-12-week-high-vs-dollar\/","title":{"rendered":"S.Africa rand hits 1-1\/2 week high vs dollar"},"content":{"rendered":"

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

JOHANNESBURG, July 2<\/span> (Reuters) – South Africa’s rand briefly
\ntouched a fresh 1-1\/2 week high against the dollar early on
\nMonday but looked unlikely to rally much further as uncertainty
\nremains over Europe’s liquidity problems.<\/span><\/p>\n

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

The rand initially climbed to 8.1525 against the
\ngreenback, its strongest level since June 20, before coming back
\nto 8.1850 by 0651 GMT, down 0.26 from Friday’s close.<\/p>\n

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

The local currency jumped as much as 2.7 percent against the
\ndollar on Friday, recording its biggest daily gain since late
\nNovember 2011, as renewed optimism about a solution to Europe’s
\ndebt problems fired up risk appetite.<\/p>\n

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

But the rand remains vulnerable to any new bouts of
\ndisappointing news out of the euro zone, South Africa’s main
\ntrading partner bloc, Tradition Analytics cautioned.<\/p>\n

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

“Investors should be wary in believing that the latest bout
\nof rand strength will be sustained indefinitely,” it said.<\/p>\n

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

“Whilst the local unit may gain even more ground in the
\nshort term, the situation abroad is very fluid.”<\/p>\n

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

On the local front, the June purchasing managers’ index due
\nout at 0900 GMT should offer the latest pointers on the state of
\nSouth Africa’s economy, with some market players now pricing in
\nthe chance of an interest rate cut later in the year to boost
\ngrowth.<\/p>\n

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

Government bonds were unchanged from Friday’s levels in
\nearly Monday trade, with the yield on the benchmark three-year
\nbond steady at 6.01 percent as was the longer-dated
\n2026 paper at 7.935 percent.<\/p>\n

(Reporting by Stella Mapenzauswa)<\/p>\n

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

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

JOHANNESBURG, July 2 (Reuters) – South Africa’s rand briefly touched a fresh 1-1\/2 week high against the dollar early on Monday but looked unlikely to rally much further as uncertainty remains over Europe’s liquidity problems. The rand initially climbed to 8.1525 against the greenback, its strongest level since June 20, before coming back to 8.1850 […]<\/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-12031","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\/12031","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=12031"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12031\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}