{"id":15428,"date":"2012-10-10T05:42:49","date_gmt":"2012-10-10T03:42:49","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/s-africas-rand-recoups-some-losses-bonds-also-up\/"},"modified":"2012-10-10T05:42:49","modified_gmt":"2012-10-10T03:42:49","slug":"s-africas-rand-recoups-some-losses-bonds-also-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-recoups-some-losses-bonds-also-up\/","title":{"rendered":"S.Africa&#8217;s rand recoups some losses, bonds also up"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Oct 9 (Reuters) &#8211; South Africa&#8217;s rand firmed<br \/>\nmore than 1.4 percent against the dollar on Tuesday, on track<br \/>\nfor its first daily gain in five trading sessions, as investors<br \/>\nresponded to news that some of the thousands of striking<br \/>\ntruckers are returning to work.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Government bonds rallied with the rand and yields pulled<br \/>\nback from multi-week highs as market players saw value in<br \/>\nrecently oversold debt, particularly at the longer end of the<br \/>\ncurve.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.7460 to the dollar by 1614 GMT,<br \/>\nup 1.43 percent from Monday&#8217;s close at 8.8730.<\/p>\n<p><span><\/span><\/p>\n<p>Reports that about a third of the truckers who had been on<br \/>\nstrike have agreed to suspend the action offered a reprieve for<br \/>\nlocal assets, battered by concerns over the damage to Africa&#8217;s<br \/>\nbiggest economy from work stoppages that began in August.<\/p>\n<p><span><\/span><\/p>\n<p>Almost 100,000 workers across South Africa, including 75,000<br \/>\nin the mining sector, have downed tools in often illegal and<br \/>\nviolent strikes that may hit economic growth this year.<\/p>\n<p><span><\/span><\/p>\n<p>The rand fell more than 2.3 percent against the dollar to a<br \/>\n3-1\/2 year low of 8.995 on Monday as the strikes fanned<br \/>\nvolatility.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The currency has already given up a lot of ground and a lot<br \/>\nof bad news is consequently priced in,&#8221; Standard Bank said in a<br \/>\nnote on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>The currency remains vulnerable to a yawning current account<br \/>\ndeficit of 6.4 percent of GDP, it cautioned.<\/p>\n<p><span><\/span><\/p>\n<p>On the debt market, the yield on the three-year benchmark<br \/>\n fell 5.5 basis points lower to 5.475 percent while<br \/>\nthat for the 14-year issue shaved off nine basis<br \/>\npoints to 7.785 percent.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG Oct 9 (Reuters) &#8211; South Africa&#8217;s rand firmed more than 1.4 percent against the dollar on Tuesday, on track for its first daily gain in five trading sessions, as investors responded to news that some of the thousands of striking truckers are returning to work. Government bonds rallied with the rand and yields pulled [&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-15428","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\/15428","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=15428"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15428\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}