{"id":12382,"date":"2012-07-13T12:40:19","date_gmt":"2012-07-13T10:40:19","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-african-rand-steadies-versus-dollar-bonds-firm\/"},"modified":"2012-07-13T12:40:19","modified_gmt":"2012-07-13T10:40:19","slug":"s-african-rand-steadies-versus-dollar-bonds-firm","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-steadies-versus-dollar-bonds-firm\/","title":{"rendered":"S.African rand steadies versus dollar, bonds firm"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* China GDP news boosts commodity currencies<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Euro zone woes will cap significant rand gains<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 13<\/span> (Reuters) &#8211; The rand regained its<br \/>\nfooting against the dollar on Friday, cheered by data that<br \/>\npointed to a soft landing for China&#8217;s economy, although euro<br \/>\nzone debt worries should keep gains in check.<\/p>\n<p><span><\/span><\/p>\n<p>Government bond prices held strong, still buoyed by demand<br \/>\nfrom foreign accounts in search of yield.<\/p>\n<p><span><\/span><\/p>\n<p>Yields hovered close to recent record lows, with the 3-year<br \/>\n and 14-year benchmarks each shedding three<br \/>\nbasis points on the day to 5.825 percent and 7.665 percent<br \/>\nrespectively.<\/p>\n<p><span><\/span><\/p>\n<p>After falling as much as 1.6 percent the previous day, the<br \/>\nrand traded at 8.3040 to the greenback by 0630 GMT, up<br \/>\n0.25 percent from Thursday&#8217;s 8.3250 close.<\/p>\n<p><span><\/span><\/p>\n<p>It tracked other commodity currencies, such as the<br \/>\nAustralian dollar, which rallied on data showing China&#8217;s economy<br \/>\ngrew in line with expectations in the second quarter, bringing<br \/>\nrelief after market fears of softer growth.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;From South Africa&#8217;s point of view, the fact that the<br \/>\nChinese authorities have already started to loosen monetary<br \/>\npolicy and have the ability to support their economy through<br \/>\nfiscal measures is good news,&#8221; said Tradition Analytics.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Whether this is a reason to turn bullish on the rand is<br \/>\nhowever debatable. Offshore developments remain sobering with<br \/>\nvery few signs of outright improvement anywhere.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The rand remains vulnerable to risk aversion, mainly linked<br \/>\nto worries of contagion from the debt problems that some<br \/>\ncountries in the euro zone &#8212; South Africa&#8217;s main trading<br \/>\npartner bloc &#8212; are grappling with.<\/p>\n<p> (Reporting by Stella Mapenzauswa; editing by David Dolan)<\/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>* China GDP news boosts commodity currencies * Euro zone woes will cap significant rand gains JOHANNESBURG, July 13 (Reuters) &#8211; The rand regained its footing against the dollar on Friday, cheered by data that pointed to a soft landing for China&#8217;s economy, although euro zone debt worries should keep gains in check. Government bond [&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-12382","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\/12382","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=12382"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}