{"id":12071,"date":"2012-07-03T12:12:51","date_gmt":"2012-07-03T10:12:51","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africas-rand-hits-7-week-high-vs-dollar\/"},"modified":"2012-07-03T12:12:51","modified_gmt":"2012-07-03T10:12:51","slug":"s-africas-rand-hits-7-week-high-vs-dollar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-hits-7-week-high-vs-dollar\/","title":{"rendered":"S.Africa&#8217;s rand hits 7-week high vs dollar"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand looks to push stronger and test 8.05<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Vehicle sales data due at 0900 GMT<\/p>\n<p><span><\/span><\/p>\n<p>* Results of govt bond auction after 0900 GMT<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, July 3 (Reuters) &#8211; The rand firmed to a 7-week<br \/>\nhigh on Tuesday and looked set to challenge a key resistance<br \/>\nlevel at 8.08 to the dollar as investors&#8217; appetite for risk held<br \/>\nup, causing flows into the domestic debt market.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was up 0.6 percent at 8.09 to the dollar<br \/>\nby 0640 GMT, compared to an 8.1550 close in the New York market<br \/>\non Monday. The unit is approaching its 100-day exponential<br \/>\nmoving average, having blasted through the 50-day average &#8211;<br \/>\nanother important level &#8211; at the end of last week.<\/p>\n<p><span><\/span><\/p>\n<p>After that, charts suggest the currency will be looking at<br \/>\n8.05.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Given the rand&#8217;s support at 8.20 a breach of 8.05 would<br \/>\nsignal that the rand bulls are finding further traction,&#8221; said<br \/>\nJudy Padayachee, a technical strategist at Absa Capital.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;My previous recommendation had been to short the rand at<br \/>\n8.20 but if the rand goes below 8.05 then that short<br \/>\nrecommendation is no longer in place. Such a breakout would then<br \/>\nopen up the 7.70 level.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Dealers say more positive news out of the euro region would<br \/>\nbe needed to push the rand through the psychologically key 8<br \/>\nrand level.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand looks to push stronger and test 8.05 * Vehicle sales data due at 0900 GMT * Results of govt bond auction after 0900 GMT JOHANNESBURG, July 3 (Reuters) &#8211; The rand firmed to a 7-week high on Tuesday and looked set to challenge a key resistance level at 8.08 to the dollar as [&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-12071","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\/12071","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=12071"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12071\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}