{"id":14305,"date":"2012-09-06T03:48:59","date_gmt":"2012-09-06T01:48:59","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/s-africas-rand-ends-firmer-vs-dlr-recovers-as-euro-rallies\/"},"modified":"2012-09-06T03:48:59","modified_gmt":"2012-09-06T01:48:59","slug":"s-africas-rand-ends-firmer-vs-dlr-recovers-as-euro-rallies","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-ends-firmer-vs-dlr-recovers-as-euro-rallies\/","title":{"rendered":"S.Africa’s rand ends firmer vs dlr, recovers as euro rallies"},"content":{"rendered":"

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

* Rand turns firmer as risky assets gain in late trade<\/span><\/p>\n

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

* But still likely to try for 8.50 support again<\/p>\n

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

JOHANNESBURG, Sept 5<\/span> (Reuters) – The rand firmed against the
\ndollar in a volatile session on Wednesday, recovering from
\nweaker levels near a key support region as the euro rallied in
\nlate afternoon trade.<\/p>\n

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

The rand came back from the session low of 8.4672\/dollar as
\nthe euro — the currency of South Africa’s country’s key trading
\npartner — rallied above $1.26 on talk that the European Central
\nBank (ECB) may unveil an unlimited bond-purchasing programme on
\nThursday.<\/p>\n

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

By 1606 GMT the rand was up 0.2 percent at 8.3978
\non it previous close of 8.4127 in New York, but was looking
\nvulnerable ahead of the ECB meeting.<\/p>\n

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

“We expect to see some rand weakness, possibly dollar\/rand
\nposition squaring ahead of tomorrow’s ECB meeting, given the
\nrisk that markets could end up disappointed if Draghi fails to
\nmeet expectations after recent comments regarding bond
\npurchases,” said Anisha Arora, emerging market analyst at 4Cast.<\/p>\n

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

The rand has weakened towards 8.50 in the past few sessions
\nbut has failed to break through that key support level and
\ninstead bounced to 8.33 this week. Analysts say the unit is
\nlikely to ignore domestic data this week, and instead take its
\ncue from the external environment.<\/p>\n

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

Locally business confidence, central bank reserves and the
\nReuters Econometer are due.<\/p>\n

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

“Should euro\/dollar break below the 1.250 area, we suspect
\n8.50 will become an attractive level for dollar\/rand, but until
\nwe see some trigger, be it from the markets reaction to the ECB,
\nrecent 8.36-8.50 ranges are seen intact,” Arora added.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Rand turns firmer as risky assets gain in late trade * But still likely to try for 8.50 support again JOHANNESBURG, Sept 5 (Reuters) – The rand firmed against the dollar in a volatile session on Wednesday, recovering from weaker levels near a key support region as the euro rallied in late afternoon trade. […]<\/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-14305","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\/14305","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=14305"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14305\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}