{"id":12133,"date":"2012-07-05T12:14:34","date_gmt":"2012-07-05T10:14:34","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africa-rand-steady-vs-dlr-bonds-at-record-highs\/"},"modified":"2012-07-05T12:14:34","modified_gmt":"2012-07-05T10:14:34","slug":"s-africa-rand-steady-vs-dlr-bonds-at-record-highs","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-steady-vs-dlr-bonds-at-record-highs\/","title":{"rendered":"S.Africa rand steady vs dlr, bonds at record highs"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 5<\/span> (Reuters) &#8211; South Africa&#8217;s rand was a<br \/>\ntouch softer against the dollar while government bonds held at<br \/>\nmulti-month highs on Thursday as the market digested dovish<br \/>\nReserve Banks comments that suggested domestic rates will stay<br \/>\nat 30-year lows for some time.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The yield on the three year benchmark bond was<br \/>\ndown two basis points at an all-time low of 5.94 percent while<br \/>\nthat for the equally heavily traded 14-year paper was<br \/>\nat 7.83 percent, its lowest since early September 2011.<\/p>\n<p><span><\/span><\/p>\n<p>The Reserve Bank said in its annual report on Wednesday<br \/>\ninflation should stay contained within a 3-6 percent target<br \/>\nuntil the end of 2014, adding that the domestic growth outlook<br \/>\nhad deteriorated.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The comments are certainly supportive of a further push<br \/>\nlower in bond yields,&#8221; RMB said in a market note.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was largely steady against the dollar in early<br \/>\ntrade, losing some of the steam that had pushed it to its<br \/>\nstrongest levels since mid-May earlier in the week.<\/p>\n<p><span><\/span><\/p>\n<p>By 0653 GMT the currency was at 8.1403\/dolar,<br \/>\nlittle changed from Wednesday&#8217;s close at 8.1361.<\/p>\n<p><span><\/span><\/p>\n<p>The rand would take its cue largely from global currency<br \/>\nmoves ahead of European Central Bank and Bank of England  policy<br \/>\nmeetings later in the day, as well as U.S. jobs data due out on<br \/>\nFriday, market watchers said.<\/p>\n<p><span><\/span><\/p>\n<p>Signs of further policy easing from developed countries<br \/>\nwhich are already sitting on near-zero rates could be supportive<br \/>\nof the local currency, Standard Bank trader Warrick Butler said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;If there is cheap G7 cash going around then you have to<br \/>\nexpect that a lot of it will flow into the high yielders such as<br \/>\nthe rand,&#8221; Butler said.<\/p>\n<p> (Reporting by Stella Mapenzauswa; Editing by Ed Cropley)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, July 5 (Reuters) &#8211; South Africa&#8217;s rand was a touch softer against the dollar while government bonds held at multi-month highs on Thursday as the market digested dovish Reserve Banks comments that suggested domestic rates will stay at 30-year lows for some time. The yield on the three year benchmark bond was down two [&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-12133","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\/12133","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=12133"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12133\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}