{"id":12357,"date":"2012-07-13T00:32:13","date_gmt":"2012-07-12T22:32:13","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-african-rand-reaches-2-week-lows-bonds-firmer\/"},"modified":"2012-07-13T00:32:13","modified_gmt":"2012-07-12T22:32:13","slug":"s-african-rand-reaches-2-week-lows-bonds-firmer","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-reaches-2-week-lows-bonds-firmer\/","title":{"rendered":"S.African rand reaches 2-week lows, bonds firmer"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Liquid rand among the weakest against dollar on the day<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Local manufacturing data only briefly boosts rand<\/p>\n<p><span><\/span><\/p>\n<p>* Bonds rally, foreign demand still strong<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, July 12 (Reuters) &#8211; South Africa&#8217;s rand fell<br \/>\nas much as 1.6 percent against the dollar on Thursday, hitting<br \/>\nits weakest level in nearly two weeks as expectations of<br \/>\nnear-term U.S. monetary easing were pared back, enabling a<br \/>\nbroad-based dollar rally.<\/p>\n<p><span><\/span><\/p>\n<p>With domestic news taking a back seat to global<br \/>\ndevelopments, the rand rallied only briefly after data showed<br \/>\nfactory output outpaced forecasts in May, backing the case<br \/>\nagainst a local interest rate cut next week.<\/p>\n<p><span><\/span><\/p>\n<p>The rand touched a session low of 8.3745\/dollar, its softest<br \/>\nsince June 29, and was trading at 8.3485 by 1542 GMT, down 1.29<br \/>\npercent on the day.<\/p>\n<p><span><\/span><\/p>\n<p>It was the weakest performer among 20 emerging market<br \/>\ncurrencies tracked by Reuters.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s a combination of risk emanating from the euro zone and<br \/>\nlack of support that people were expecting from the Fed (U.S.<br \/>\nFederal Reserve). There&#8217;s still reason for people to move away<br \/>\nfrom riskier markets at this stage,&#8221; ETM market analyst Luke<br \/>\nBarnett said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It tends to be the case for the rand (to underperform) on<br \/>\nthese occasions since it&#8217;s one of the most liquid emerging<br \/>\nmarket currencies. I don&#8217;t really think it speaks to local<br \/>\nfundamentals right now.&#8221;<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Liquid rand among the weakest against dollar on the day * Local manufacturing data only briefly boosts rand * Bonds rally, foreign demand still strong JOHANNESBURG, July 12 (Reuters) &#8211; South Africa&#8217;s rand fell as much as 1.6 percent against the dollar on Thursday, hitting its weakest level in nearly two weeks as expectations [&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-12357","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\/12357","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=12357"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12357\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}