{"id":12347,"date":"2012-07-12T12:30:37","date_gmt":"2012-07-12T10:30:37","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/south-africas-rand-weakens-bond-yields-keep-falling\/"},"modified":"2012-07-12T12:30:37","modified_gmt":"2012-07-12T10:30:37","slug":"south-africas-rand-weakens-bond-yields-keep-falling","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/south-africas-rand-weakens-bond-yields-keep-falling\/","title":{"rendered":"South Africa&#8217;s rand weakens, bond yields keep falling"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand support seen at 8.35 per dollar<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Lower manufacturing output expected<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 12<\/span> (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nweakened against the dollar on Thursday, in line with other<br \/>\ncommodity currencies, after the U.S. Federal Reserve<br \/>\ndisappointed investors hoping for more bond-buying to revive the<br \/>\nworld&#8217;s biggest economy.<\/p>\n<p><span><\/span><\/p>\n<p>The rand dropped 1.1 percent to 8.3177 against the<br \/>\ngreenback at 0647 GMT from last night&#8217;s New York close of<br \/>\n8.2250.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The euro is a little bit lower, commodity currencies are<br \/>\nunder pressure on bad Australian employment data put out while<br \/>\nwe were sleeping,&#8221; said Jim Bryson, a trader at Rand Merchant<br \/>\nBank.<\/p>\n<p><span><\/span><\/p>\n<p>The dollar gained overnight after minutes from last month&#8217;s<br \/>\nFederal Reserve meeting showed additional asset-buying by the<br \/>\nFed was not imminent and likely to occur only if U.S. economic<br \/>\nconditions worsened.<\/p>\n<p><span><\/span><\/p>\n<p>The overall damp sentiment was exacerbated by a surprise<br \/>\ndrop in Australian employment in June which put commodity<br \/>\ncurrencies such as the rand even further on the back foot.<\/p>\n<p><span><\/span><\/p>\n<p>However, foreign appetite for South African bonds remains at<br \/>\nrecord levels, with the yield on three-year paper dropping 3.5<br \/>\nbasis points to another new low of 5.85 percent while that on<br \/>\nthe longer-dated 14-year paper fell 6.5 basis points<br \/>\nto 7.685 percent.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa is due to release manufacturing output data for<br \/>\nMay at 1100 GMT. Ten economists surveyed by Reuters expect<br \/>\nfactory output to growth to slow at 1.0 percent on an annual<br \/>\nbasis from 1.2 percent in April.<\/p>\n<p><span><\/span><\/p>\n<p>The brake in manufacturing output is likely to back the case<br \/>\nfor an interest rate cut in Africa&#8217;s biggest economy, further<br \/>\nincreasing foreign demand for local bonds ahead of the country&#8217;s<br \/>\ninclusion to Citi&#8217;s World Government Bond Index in October.<\/p>\n<p> (Reporting by Vuyani Ndaba; 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 support seen at 8.35 per dollar * Lower manufacturing output expected JOHANNESBURG, July 12 (Reuters) &#8211; South Africa&#8217;s rand weakened against the dollar on Thursday, in line with other commodity currencies, after the U.S. Federal Reserve disappointed investors hoping for more bond-buying to revive the world&#8217;s biggest economy. The rand dropped 1.1 percent [&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-12347","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\/12347","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=12347"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12347\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}