{"id":12242,"date":"2012-07-10T00:25:15","date_gmt":"2012-07-09T22:25:15","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africas-rand-at-week-low-vs-dollar-looks-past-8-30\/"},"modified":"2012-07-10T00:25:15","modified_gmt":"2012-07-09T22:25:15","slug":"s-africas-rand-at-week-low-vs-dollar-looks-past-8-30","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-at-week-low-vs-dollar-looks-past-8-30\/","title":{"rendered":"S.Africa&#8217;s rand at week low vs dollar, looks past 8.30"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand retest of 8.30 may confirm weakness<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bond yields retreating from record lows<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 9<\/span> (Reuters) &#8211; The rand extended losses on<br \/>\nMonday to its weakest level so far this month, pulled down by a<br \/>\nbleak outlook for global growth and dragging bond yields up from<br \/>\nrecent lows.<\/p>\n<p><span><\/span><\/p>\n<p>The rand plunged through a 8.05-8.20 band that had held for<br \/>\na week after poor U.S. jobs numbers on Friday. It extended those<br \/>\nlosses on Monday to 8.3040, its weakest level since June 29.<br \/>\nAnalysts say the 8.30 level should provide support for the rand<br \/>\nfor now.<\/p>\n<p><span><\/span><\/p>\n<p>The local unit was at 8.2620 to the dollar at 1505<br \/>\nGMT, compared with a 8.2333 close in New York on Friday. Dealers<br \/>\nsaid Monday&#8217;s low volumes signalled a lack of conviction on the<br \/>\ndollar&#8217;s strength.<\/p>\n<p><span><\/span><\/p>\n<p>Reuters data showed volumes were similar to Wednesday&#8217;s<br \/>\nlevel when the U.S. market was closed for a national holiday.<\/p>\n<p><span><\/span><\/p>\n<p>The euro, the currency of South Africa&#8217;s biggest trading<br \/>\npartner, was knocked by rising Spanish and Italian bond yields<br \/>\nand caution about a meeting of the region&#8217;s finance ministers<br \/>\nlater in the session.<\/p>\n<p><span><\/span><\/p>\n<p>Domestic bonds were little changed but had retreated from<br \/>\nrecords hit last week. Dealers see continued foreign buying<br \/>\nlikely driving yields lower this week. However prices may be<br \/>\noverstretched.<\/p>\n<p><span><\/span><\/p>\n<p>The 2026 yield nudged up to 7.88 percent, away<br \/>\nfrom a 10-month low of 7.80 last week. The three-year bond<br \/>\n was at 5.955 percent, retreating from a lifetime<br \/>\nrecord of 5.91 percent.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand retest of 8.30 may confirm weakness * Bond yields retreating from record lows JOHANNESBURG, July 9 (Reuters) &#8211; The rand extended losses on Monday to its weakest level so far this month, pulled down by a bleak outlook for global growth and dragging bond yields up from recent lows. The rand plunged through [&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-12242","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\/12242","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=12242"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12242\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}