{"id":13733,"date":"2012-08-22T03:04:29","date_gmt":"2012-08-22T01:04:29","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/s-africas-rand-firmer-bonds-up-on-euro-optimism\/"},"modified":"2012-08-22T03:04:29","modified_gmt":"2012-08-22T01:04:29","slug":"s-africas-rand-firmer-bonds-up-on-euro-optimism","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-firmer-bonds-up-on-euro-optimism\/","title":{"rendered":"S.Africa’s rand firmer, bonds up on euro optimism"},"content":{"rendered":"

\t\t<\/span><\/p>\n

JOHANNESBURG<\/span> Aug 21 (Reuters) – The rand rebounded against
\nthe dollar on Tuesday, and was the third-best performer in a
\nbasket of emerging market currencies, as fears of more violence
\nat South African mines ebbed and hope of a solution to euro zone
\ndebt problems boosted risk appetite.<\/span><\/p>\n

<\/span><\/p>\n

Receding fears that last week’s violence at Lonmin’s
\n ONJ.J mine might spread to other mines in the world’s
\nlargest platinum producer supported South African assets across
\nthe board, with government bonds drawing strong bids at a weekly
\nauction.<\/p>\n

<\/span><\/p>\n

The rand climbed as much as 1.4 percent to a session high of
\n8.2118 to the dollar on Tuesday. By 1600 GMT it was trading at
\n8.2450 up 1.08 percent from Monday’s New York close and
\nrecovering most of the 1.3 percent it lost between last
\nThursday, when the violence at the Lonmin mine escalated, and
\nMonday’s close.<\/p>\n

<\/span><\/p>\n

The rand is also heavily influenced by swings in global risk
\nappetite, which rose on Tuesday on hopes the European Central
\nBank will soon take action to contain the euro zone debt crisis.<\/p>\n

<\/span><\/p>\n

The local currency recorded the third-biggest daily gain
\nagainst the dollar among 20 emerging market currencies tracked
\nby Reuters, trailing only the Hungarian forint and the
\nCzech crown.<\/p>\n

<\/span><\/p>\n

“The Lonmin fears have been put on the back burner for now,
\nallowing South African government bonds room to renew their
\nstrength, while the rand pressure abates and the unit takes its
\ncue from the global backdrop,” said Anisha Arora, emerging
\nmarket analyst at 4CAST.<\/p>\n

<\/span><\/p>\n

South African government bonds edged higher and yields
\ninversely closed lower from Monday’s levels, with the yield on
\nthree-year paper shedding five basis points to 5.57
\npercent and the yield on the 14-year issue down four
\nbasis points at 7.555 percent.<\/p>\n

<\/span><\/p>\n

“Today’s solid auction certainly played a role – it gave the
\nmarket more conviction to extend the strength from yesterday,”
\nsaid Di Luo, an interest rate strategist at HSBC in London.<\/p>\n

<\/span><\/p>\n

The National Treasury sold a total of 2.1 billion rand
\n($252.83 million) of its 2023, 2036 and
\n2048 bonds on Tuesday, attracting strong bid-to-cover
\nratios of 7.1, 4.5 and 3.2 respectively. <\/p>\n

(Reporting by Stella Mapenzauswa; Editing by Susan Fenton)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

JOHANNESBURG Aug 21 (Reuters) – The rand rebounded against the dollar on Tuesday, and was the third-best performer in a basket of emerging market currencies, as fears of more violence at South African mines ebbed and hope of a solution to euro zone debt problems boosted risk appetite. Receding fears that last week’s violence at […]<\/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-13733","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\/13733","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=13733"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13733\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}