{"id":15724,"date":"2012-10-19T06:07:11","date_gmt":"2012-10-19T04:07:11","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/south-africas-rand-weakens-long-dated-bonds-gain\/"},"modified":"2012-10-19T06:07:11","modified_gmt":"2012-10-19T04:07:11","slug":"south-africas-rand-weakens-long-dated-bonds-gain","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/south-africas-rand-weakens-long-dated-bonds-gain\/","title":{"rendered":"South Africa&#8217;s rand weakens, long-dated bonds gain"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand weaker on EU summit jitters<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Shorter end of bonds gain<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Oct 18 (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nweakened against the dollar on Thursday as traders moved out of<br \/>\nassets seen as risky, such as emerging market currencies, ahead<br \/>\nof a European Union summit later in the day.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was 0.37 percent weaker at 8.6311 against<br \/>\nthe dollar at 1513 GMT from last night&#8217;s close of 8.6020 in New<br \/>\nYork.<\/p>\n<p><span><\/span><\/p>\n<p>This week&#8217;s &#8220;rand rally was overdone. Basically we have got<br \/>\nthe EU summit over the next two days, which is the uncertainty,&#8221;<br \/>\nsaid Brigid Taylor, head of institutional sales at Nedbank.<\/p>\n<p><span><\/span><\/p>\n<p>EU leaders were due to meet on Thursday, to try to bridge<br \/>\ndeep differences over plans for a banking union. It will be the<br \/>\nfourth time they have met this year and the 22nd summit held<br \/>\nsince the crisis erupted in Greece in late 2009.<\/p>\n<p><span><\/span><\/p>\n<p>From a local perspective, months of wildcat strikes are<br \/>\nbecoming less of a factor for traders as they switch focus to<br \/>\nother global issues. But several mines still cannot haul ore out<br \/>\nof the ground due to the strikes that have hit the platinum and<br \/>\ngold sectors hard.<\/p>\n<p><span><\/span><\/p>\n<p>Gold Fields said most miners returned to work at<br \/>\nits strike-hit South African operations on Thursday but a new<br \/>\nwalkout at Lonmin&#8217;s Marikana platinum mine dampened hopes of an<br \/>\nend to the labour unrest.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There are still some skeletons in the closet that will have<br \/>\nto be resolved,&#8221; Taylor added.<\/p>\n<p><span><\/span><\/p>\n<p>On fixed incomes, the yield curve flattened with<br \/>\nshorter-dated bonds weakening and the longer-end gaining<br \/>\nstrength.<\/p>\n<p><span><\/span><\/p>\n<p>The three year bond rose four basis points to 5.4<br \/>\npercent while the longer dated fell 2.5 basis points<br \/>\nto 7.585 percent.<\/p>\n<p> (Reporting by Vuyani Ndaba; Editing by Jon Herskovitz, Ron<br \/>\nAskew)<\/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>* Rand weaker on EU summit jitters * Shorter end of bonds gain JOHANNESBURG Oct 18 (Reuters) &#8211; South Africa&#8217;s rand weakened against the dollar on Thursday as traders moved out of assets seen as risky, such as emerging market currencies, ahead of a European Union summit later in the day. The rand was 0.37 [&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-15724","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\/15724","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=15724"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15724\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}