{"id":14390,"date":"2012-09-08T03:56:54","date_gmt":"2012-09-08T01:56:54","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/s-africas-rand-rallies-on-weak-u-s-data\/"},"modified":"2012-09-08T03:56:54","modified_gmt":"2012-09-08T01:56:54","slug":"s-africas-rand-rallies-on-weak-u-s-data","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-rallies-on-weak-u-s-data\/","title":{"rendered":"S.Africa’s rand rallies on weak U.S. data"},"content":{"rendered":"

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

* Rand presses on to stronger levels, testing 8.15<\/span><\/p>\n

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

* Poor U.S. jobs numbers spur riskier currencies<\/p>\n

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

JOHANNESBURG, Sept 7<\/span> (Reuters) – South Africa’s rand
\nextended this week’s rally on Friday, hitting a three-week high
\nagainst the dollar as sentiment for riskier assets improved
\nafter weaker-than-expected U.S. jobs figures, suggesting a need
\nfor further monetary stimulus.<\/p>\n

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

The rand was up 1.5 percent at 8.1747 at 1530 GMT
\nfrom last night’s New York close of 8.3010, after piercing 8.20,
\na level it last touched in mid-August.<\/p>\n

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

Emerging assets were in demand for a second day after the
\nEuropean Central Bank announced an unlimited bond-buying program
\non Thursday to help stem the euro debt crisis, pressuring
\ntraditionally safe-haven assets such as the dollar.<\/p>\n

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

Friday’s report showed a smaller-than-expected rise in U.S.
\nnon-farm payrolls in August, setting the stage for the Federal
\nReserve to pump additional money into the sluggish economy.<\/p>\n

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

“Now there are a lot of people thinking that the Fed is
\ngoing to hurry to do another round of quantitative easing,” said
\nIon de Vleeschauwer, a trader at Bidvest Bank in Johannesburg.<\/p>\n

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

De Vleeschauwer said the rand looked set to trade in range
\nof 8.05-8.15 against the greenback.<\/p>\n

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

Government bonds also gained from the renewed emerging
\nmarket optimism. The yield on the three-year bond fell
\n3.5 basis points to 5.37 percent and that on the 14-year paper
\n dropped 5.5 basis points to 7.295 percent.<\/p>\n

(Reporting by Vuyani Ndaba; Editing by Ed Cropley, John
\nStonestreet)<\/p>\n

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

\n

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

* Rand presses on to stronger levels, testing 8.15 * Poor U.S. jobs numbers spur riskier currencies JOHANNESBURG, Sept 7 (Reuters) – South Africa’s rand extended this week’s rally on Friday, hitting a three-week high against the dollar as sentiment for riskier assets improved after weaker-than-expected U.S. jobs figures, suggesting a need for further monetary […]<\/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-14390","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\/14390","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=14390"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14390\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}