{"id":12176,"date":"2012-07-06T12:16:46","date_gmt":"2012-07-06T10:16:46","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africas-rand-looks-to-test-8-20-support\/"},"modified":"2012-07-06T12:16:46","modified_gmt":"2012-07-06T10:16:46","slug":"s-africas-rand-looks-to-test-8-20-support","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-looks-to-test-8-20-support\/","title":{"rendered":"S.Africa&#8217;s rand looks to test 8.20 support"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand could break out over 8.20<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Foreign reserves nudge up in June<\/p>\n<p><span><\/span><\/p>\n<p>* Inflation-linked bond auction at 0900 GMT<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, July 6 (Reuters) &#8211; The rand eased in early<br \/>\nFriday trade and looked set to break through an 8.20 support<br \/>\nlevel that has held it down in recent sessions while yields on<br \/>\ngovernment debt hit fresh record lows as more foreign money<br \/>\npoured in in search of higher returns.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.1620 against the dollar at 0648<br \/>\nGMT, 0.21 percent weaker than its New York close of 8.1450.<\/p>\n<p><span><\/span><\/p>\n<p>The unit has been stuck in a 8.20-8.06 band this week and<br \/>\nneeds to break through those barriers to move out of its lull.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We continue to watch these boundaries for direction &#8211; 8.05<br \/>\nand 8.20 &#8211; and despite the event risk as we await the release of<br \/>\nU.S. non-farm payrolls, our bias is to look for bottoming<br \/>\nsignals in dollar\/rand,&#8221; said Absa technical strategist Judy<br \/>\nPadayachee.<\/p>\n<p><span><\/span><\/p>\n<p>The rand ignored reserves data which showed South Africa&#8217;s<br \/>\ninternational liquidity position had nudged up by $311 million<br \/>\nto $49.218 billion in June due to a higher gold price and a<br \/>\nweaker dollar in the month.<\/p>\n<p><span><\/span><\/p>\n<p>With no other domestic data expected in this session,<br \/>\ndealers will look abroad, especially at the U.S. non-farm<br \/>\npayrolls numbers at 1230 GMT.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on government paper hit fresh records, at 5.90<br \/>\npercent on the 2015 and 7.075 percent on the 2021<br \/>\nissue.<\/p>\n<p><span><\/span><\/p>\n<p>Treasury will look to place 800 million rand of inflation<br \/>\nlinked paper in the session. Results are out after the auction<br \/>\ncloses at 0900 GMT.<\/p>\n<p> (Reporting by Xola Potelwa; 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>* Rand could break out over 8.20 * Foreign reserves nudge up in June * Inflation-linked bond auction at 0900 GMT JOHANNESBURG, July 6 (Reuters) &#8211; The rand eased in early Friday trade and looked set to break through an 8.20 support level that has held it down in recent sessions while yields on government [&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-12176","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\/12176","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=12176"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12176\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}