{"id":15221,"date":"2012-10-04T05:28:16","date_gmt":"2012-10-04T03:28:16","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/s-africas-rand-recovers-from-one-month-low\/"},"modified":"2012-10-04T05:28:16","modified_gmt":"2012-10-04T03:28:16","slug":"s-africas-rand-recovers-from-one-month-low","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-recovers-from-one-month-low\/","title":{"rendered":"S.Africa&#8217;s rand recovers from one-month low"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Oct 3 (Reuters) &#8211; South Africa&#8217;s rand weakened<br \/>\nto a one-month low on Wednesday as commodity currencies came<br \/>\nunder pressure and the positive effects of inclusion in an<br \/>\ninfluential bond index began to wear off.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand was trading at 8.4226 to the dollar at 1550 GMT,<br \/>\n0.7 percent weaker than Tuesday&#8217;s New York close, after falling<br \/>\nto a session low of 8.4590.<\/p>\n<p><span><\/span><\/p>\n<p>Other commodity-linked currencies, such as the Canadian and<br \/>\nAustralian dollars, fell on Wednesday on weak economic data from<br \/>\nChina and Australia.<\/p>\n<p><span><\/span><\/p>\n<p>Traders said the rand was also returning to its normal<br \/>\nlevels after it received a boost from South Africa&#8217;s inclusion<br \/>\nin the Citi World Government Bond Index on Monday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There was a demand for rand which didn&#8217;t reflect where the<br \/>\nrand should be based on our economic fundamentals,&#8221; said Jim<br \/>\nBryson, a currency trader at Rand Merchant Bank. &#8220;We were down<br \/>\ntoo low because of the index and this is probably more where we<br \/>\nshould be.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Government bond yields edged lower, with the yield on the<br \/>\n2015 bond 6 basis points lower at 5.32 percent and<br \/>\nthat on the 2026 paper down 3 basis points at 7.49<br \/>\npercent.<\/p>\n<p><span><\/span><\/p>\n<p>Further foreign inflows related to the WGBI inclusion should<br \/>\nprovide additional support to yields, analysts at Absa Capital<br \/>\nwrote in a note published on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We remain constructive on domestic rates, on the back of<br \/>\nour view that passive investors will increase their holdings of<br \/>\ndomestic securities over the coming months, and that the global<br \/>\neconomic outlook will remain depressed and monetary policy<br \/>\nbiased looser for some time to come,&#8221; the note said.<\/p>\n<p> (Reporting by Tosin Sulaiman; Editing by Ruth Pitchford)<\/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 Oct 3 (Reuters) &#8211; South Africa&#8217;s rand weakened to a one-month low on Wednesday as commodity currencies came under pressure and the positive effects of inclusion in an influential bond index began to wear off. The rand was trading at 8.4226 to the dollar at 1550 GMT, 0.7 percent weaker than Tuesday&#8217;s New York [&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-15221","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\/15221","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=15221"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15221\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}