{"id":15069,"date":"2012-09-29T05:07:26","date_gmt":"2012-09-29T03:07:26","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/rand-weakens-on-wider-trade-deficit-bonds-supported\/"},"modified":"2012-09-29T05:07:26","modified_gmt":"2012-09-29T03:07:26","slug":"rand-weakens-on-wider-trade-deficit-bonds-supported","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rand-weakens-on-wider-trade-deficit-bonds-supported\/","title":{"rendered":"Rand weakens on wider trade deficit, bonds supported"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand under pressure from trade deficit<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Last-minute inflows support bond market<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, Sept 28<\/span> (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nweakened against the dollar on Friday, weighed down by a<br \/>\nwider-than-expected trade deficit figure and a subdued sentiment<br \/>\ntowards riskier assets, although it found some support from<br \/>\nlate-session bond buying.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s trade deficit widened to 12.2 billion rand<br \/>\n($1.49 billion) in August after a 6.7 billion rand shortfall in<br \/>\nJuly, putting pressure on the currency.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was 0.22 percent weaker at 8.268 against<br \/>\nthe dollar at 1453 GMT, from last night&#8217;s close of 8.2520.<\/p>\n<p><span><\/span><\/p>\n<p>However, it reversed some losses from earlier in the<br \/>\nsession, boosted by bond inflows ahead of South Africa&#8217;s<br \/>\ninclusion in Citi&#8217;s World Government Bond Index on Monday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The ongoing deterioration in the trade balance will add to<br \/>\nthe pressure on the current deficit, which has already widened<br \/>\nto a deficit of 6.4 percent of GDP in Q2 2012,&#8221; said Kevin<br \/>\nLings, an economist at Stanlib.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;This all suggests that the rand exchange rate is increasing<br \/>\nat risk of weakening.&#8221; Lings added.<\/p>\n<p><span><\/span><\/p>\n<p>The currency was also under pressure before the trade data<br \/>\nas Moody&#8217;s cut its rating on South African debt to Baa1 from A3<br \/>\non Thursday, citing worries about the government&#8217;s institutional<br \/>\nstrength, investment climate and political stability.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand under pressure from trade deficit * Last-minute inflows support bond market JOHANNESBURG, Sept 28 (Reuters) &#8211; South Africa&#8217;s rand weakened against the dollar on Friday, weighed down by a wider-than-expected trade deficit figure and a subdued sentiment towards riskier assets, although it found some support from late-session bond buying. South Africa&#8217;s trade deficit [&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-15069","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\/15069","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=15069"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15069\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}