{"id":12755,"date":"2012-07-25T13:31:49","date_gmt":"2012-07-25T11:31:49","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/rand-weaker-near-7-week-low-vs-dollar-bonds-sold\/"},"modified":"2012-07-25T13:31:49","modified_gmt":"2012-07-25T11:31:49","slug":"rand-weaker-near-7-week-low-vs-dollar-bonds-sold","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rand-weaker-near-7-week-low-vs-dollar-bonds-sold\/","title":{"rendered":"Rand weaker near 7-week low vs dollar, bonds sold"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand could test three-year low of 8.71 this week<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Power utility Eskom sells inflation-linked bond at 0900<br \/>\nGMT<\/p>\n<p><span><\/span><\/p>\n<p>* Deputy Governor Mminele speaks at 1100 GMT<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, July 25 (Reuters) &#8211; South Africa&#8217;s rand fell<br \/>\nagainst the dollar in early Wednesday trade, showing a<br \/>\nvulnerability that could see it test a three-year low of 8.71<br \/>\nset in June if the euro region continues to look shaky and fuel<br \/>\ninvestor risk aversion.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds tracked the currency lower as foreigners<br \/>\nsold some bonds, driving yields up for the third straight day.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.5475 to the dollar at 0630 GMT,<br \/>\n0.3 percent weaker than its 8.52 close in New York on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts say the rand is likely to fall towards 8.71, a<br \/>\nthree-year low hit in early June. It hit a seven-week low of<br \/>\n8.5525 on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;In the near term, I am looking for a re-test of the June 1<br \/>\npeak at 8.7100 before an eventual break above that in due<br \/>\ncourse,&#8221; said Kamran Sheikh, technical strategist at Informa<br \/>\nGlobal Markets.<\/p>\n<p><span><\/span><\/p>\n<p>The rand, in line with other emerging market currencies, is<br \/>\nsuffering from a bout of risk aversion as Spain&#8217;s borrowing<br \/>\ncosts soar and the euro&#8217;s fourth largest economy looks<br \/>\nincreasingly as though it may need a bail-out.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand could test three-year low of 8.71 this week * Power utility Eskom sells inflation-linked bond at 0900 GMT * Deputy Governor Mminele speaks at 1100 GMT JOHANNESBURG, July 25 (Reuters) &#8211; South Africa&#8217;s rand fell against the dollar in early Wednesday trade, showing a vulnerability that could see it test a three-year low [&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-12755","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\/12755","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=12755"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12755\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}