{"id":14150,"date":"2012-09-01T03:31:58","date_gmt":"2012-09-01T01:31:58","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/s-africas-rand-firmer-though-in-choppy-trade\/"},"modified":"2012-09-01T03:31:58","modified_gmt":"2012-09-01T01:31:58","slug":"s-africas-rand-firmer-though-in-choppy-trade","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-firmer-though-in-choppy-trade\/","title":{"rendered":"S.Africa’s rand firmer, though in choppy trade"},"content":{"rendered":"

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

* Rand firms on Jackson Hole Fed speech<\/span><\/p>\n

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

* Currency may test 8.37 ahead of U.S. holiday<\/p>\n

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

JOHANNESBURG<\/span> Aug 31 (Reuters) – South Africa’s rand firmed
\non Friday against the dollar after Federal Reserve Chairman Ben
\nBernanke promised that the U.S. central bank would act as needed
\nto boost the world’s biggest economy and bring down
\nunemployment.<\/p>\n

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

The rand strengthened almost 1 percent to 8.4020 versus the
\ndollar at 1504 GMT from New York’s close of 8.4850, recouping
\nits losses from a week-long lull.<\/p>\n

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

“It was extremely volatile after the (Bernanke) speech. The
\nrand was starting to look ‘toppish’ yesterday to break 8.5, and
\nthat has meant we are retracing, finally,” said Jim Bryson, a
\nrand trader at Rand Merchant Bank.<\/p>\n

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

“The rand weakness was, first of all, created by the whole
\nChina slowdown, and then obviously we had our internal problems
\nwith the strike problem.”<\/p>\n

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

Bernanke said in his Jackson Hole address that progress in
\nbringing down U.S. unemployment was too slow and the central
\nbank would act as needed to strengthen the economic
\nrecovery.<\/p>\n

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

Bryson said the rand is now expected to test stronger levels
\nat 8.37 before Monday’s national holiday in the United States,
\nunless the euro flutters ahead of the European Central Bank
\nmeeting on Sept. 6.<\/p>\n

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

Africa’s largest economy and the world’s biggest platinum
\nproducer has been hit by violent labour clashes that left 44
\npeople dead at a Lonmin mine in Marikana and
\nfroze production for the past three weeks.<\/p>\n

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

The yield on the three-year bond rose 3.5 basis
\npoints to 5.49 percent and that on the longer-dated 14-year
\npaper flattened to 7.43 percent.<\/p>\n

(Reporting by Vuyani Ndaba; editing by Stephen Nisbet)<\/p>\n

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

\n

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

* Rand firms on Jackson Hole Fed speech * Currency may test 8.37 ahead of U.S. holiday JOHANNESBURG Aug 31 (Reuters) – South Africa’s rand firmed on Friday against the dollar after Federal Reserve Chairman Ben Bernanke promised that the U.S. central bank would act as needed to boost the world’s biggest economy and bring […]<\/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-14150","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\/14150","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=14150"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14150\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}