{"id":14263,"date":"2012-09-05T03:42:01","date_gmt":"2012-09-05T01:42:01","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/s-african-rand-relinquishes-gains-bonds-firmer\/"},"modified":"2012-09-05T03:42:01","modified_gmt":"2012-09-05T01:42:01","slug":"s-african-rand-relinquishes-gains-bonds-firmer","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-relinquishes-gains-bonds-firmer\/","title":{"rendered":"S.African rand relinquishes gains, bonds firmer"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, Sept 4<\/span> (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nretreated from 1-1\/2 week highs against the dollar on Tuesday as<br \/>\neuro zone worries hit riskier emerging market assets but<br \/>\ngovernment bonds edged up ahead of their inclusion in<br \/>\nCitigroup&#8217;s World Government Bond Index next month.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand was affected by worries about liquidity problems in<br \/>\nthe euro zone. which investors fear could spread if policymakers<br \/>\nfail to come up with concrete resolutions.<\/p>\n<p><span><\/span><\/p>\n<p>Europe is traditionally South Africa&#8217;s largest trading<br \/>\npartner bloc and the rand has tended to be susceptible to<br \/>\nswings in sentiment as policymakers grapple with debt problems<br \/>\nin that region.<\/p>\n<p><span><\/span><\/p>\n<p>The rand bounced off a session high of<br \/>\n8.3360\/dollar, its strongest level since July 27, and was at<br \/>\n8.41 by 1630 GMT, down 0.3 percent on the day.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We believe that the rand will remain on the back foot until<br \/>\nprospects for global economic growth and commodity prices<br \/>\nturn the corner,&#8221; said Bruce Donald, a strategist at Standard<br \/>\nBank.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;However, there could be some near-term respite for the rand<br \/>\nshould the European Central Bank announce a much-awaited bond<br \/>\npurchase programme this week.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Foreign accounts are still overall attracted to local debt<br \/>\nthough, partly due to the imminent inclusion in the WGBI, with<br \/>\nnet inflows of nearly 5 billion rand seen during August,<br \/>\naccording to data from the JSE exchange. Buying of government<br \/>\nbonds on Tuesday pushed yields to late July lows.<\/p>\n<p><span><\/span><\/p>\n<p>Demand was strong at the Treasury&#8217;s weekly auction for 2.1<br \/>\nbillion rand ($249.97 million) worth of bonds, pushing yields<br \/>\nsharply lower compared to last week.<\/p>\n<p><span><\/span><\/p>\n<p>On the secondary market yields also fell, with the<br \/>\nthree year paper easing four basis points to 5.385<br \/>\npercent while the 14-year paper was down 4.5 basis<br \/>\npoints at 7.315 percent.<br \/>\n ($1 = 8.4011 South African rand)<\/p>\n<p> (Reporting by Stella Mapenzauswa; Editing by Susan Fenton)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, Sept 4 (Reuters) &#8211; South Africa&#8217;s rand retreated from 1-1\/2 week highs against the dollar on Tuesday as euro zone worries hit riskier emerging market assets but government bonds edged up ahead of their inclusion in Citigroup&#8217;s World Government Bond Index next month. The rand was affected by worries about liquidity problems in the [&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-14263","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\/14263","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=14263"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14263\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}