{"id":13993,"date":"2012-08-29T03:21:09","date_gmt":"2012-08-29T01:21:09","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/rand-comes-off-2-month-low-to-end-firmer-vs-dollar\/"},"modified":"2012-08-29T03:21:09","modified_gmt":"2012-08-29T01:21:09","slug":"rand-comes-off-2-month-low-to-end-firmer-vs-dollar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rand-comes-off-2-month-low-to-end-firmer-vs-dollar\/","title":{"rendered":"Rand comes off 2-month low to end firmer vs dollar"},"content":{"rendered":"

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

* S.Africa’s currency boosted by euro in late trade<\/span><\/p>\n

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

* Q2 GDP quickens but below market expectations<\/p>\n

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

JOHANNESBURG<\/span> Aug 28 (Reuters) – The rand recovered from a
\ntwo-month low hit on concerns about South Africa’s growth
\noutlook, as a stronger euro helped the local currency to a
\nfirmer close against the dollar in the afternoon session on
\nWednesday.<\/p>\n

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

Second quarter GDP undershot market expectations and the
\nmarket sees weak growth in Q3 as labour strife in the mining
\nsector is expected to weigh heavily on the economy.<\/p>\n

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

The rand was up 0.6 percent at 8.3870 to the dollar
\nby 1615 GMT, recovering from a 8.4550 low earlier in the
\nsession.<\/p>\n

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

“This afternoon the rand has been firmer against most majors
\non the back of commodity prices pushing higher,” said Paul
\nChakaduka from Global Trader.<\/p>\n

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

South Africa’s economic growth in the second quarter
\nquickened to 3.2 percent quarter-on-quarter led by a surprise
\njump in mining, compared to 2.7 percent growth in Q1, but was
\nlower than expectations of 3.3 percent.<\/p>\n

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

“These figures were flattered by the recovery in mining
\nafter a particularly weak Q1. But already, given recent tragic
\nevents, questions need to be asked about sustainability,” said
\nRazia Khan, head of Africa research at Standard Chartered.<\/p>\n

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

The central bank is likely to keep interest rates steady in
\nSeptember, waiting to see the economic impact in the third
\nquarter of mining labour unrest in which 44 people were killed
\nthis month, while gold miners face pay increase demands.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* S.Africa’s currency boosted by euro in late trade * Q2 GDP quickens but below market expectations JOHANNESBURG Aug 28 (Reuters) – The rand recovered from a two-month low hit on concerns about South Africa’s growth outlook, as a stronger euro helped the local currency to a firmer close against the dollar in the afternoon […]<\/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-13993","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\/13993","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=13993"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13993\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}