{"id":13058,"date":"2012-08-01T13:53:11","date_gmt":"2012-08-01T11:53:11","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/s-africa-rand-tests-8-3-support-level-against-dollar\/"},"modified":"2012-08-01T13:53:11","modified_gmt":"2012-08-01T11:53:11","slug":"s-africa-rand-tests-8-3-support-level-against-dollar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-tests-8-3-support-level-against-dollar\/","title":{"rendered":"S.Africa rand tests 8.3 support level against dollar"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand could break support barrier if ECB, Fed disappoint<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* July PMI data due at 0900 GMT<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Aug 1 (Reuters) &#8211; South Africa&#8217;s rand opened<br \/>\nslightly firmer against the dollar on Wednesday but looked ripe<br \/>\nfor a test of the 8.30 support barrier in the trading day.<\/p>\n<p><span><\/span><\/p>\n<p>The rand nudged up just 0.12 percent to 8.2540 to<br \/>\nthe dollar at 0640 GMT, off a 8.2675 close in the New York<br \/>\nsession on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>The currency had looked set to test 8.15 and then 8.11<br \/>\nresistance levels in the last two sessions.<\/p>\n<p><span><\/span><\/p>\n<p>However, the unit pulled back to just below 8.30 overnight<br \/>\non dollar demand from New York investors trying to cover against<br \/>\nrisky positions ahead of a European Central Bank policy meeting<br \/>\non Thursday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We didn&#8217;t manage to break the 8.305 (dollar) resistance<br \/>\narea in New York trading, and above there, the 8.370 level<br \/>\nshould offer further resistance,&#8221; said Warrick Butler, a rand<br \/>\ntrader at Standard Bank.<\/p>\n<p><span><\/span><\/p>\n<p>The rand has hit a low of 8.29 so far on Wednesday, making a<br \/>\nbreak of 8.30 within reach.<\/p>\n<p><span><\/span><\/p>\n<p>Investors will also be watching for the Federal Reserve&#8217;s<br \/>\nmonetary policy statement later in the session. The market is<br \/>\nexpecting further easing to prop up the slowing U.S. economy.<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 break support barrier if ECB, Fed disappoint * July PMI data due at 0900 GMT JOHANNESBURG Aug 1 (Reuters) &#8211; South Africa&#8217;s rand opened slightly firmer against the dollar on Wednesday but looked ripe for a test of the 8.30 support barrier in the trading day. The rand nudged up just 0.12 [&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-13058","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\/13058","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=13058"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13058\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}