{"id":16101,"date":"2012-11-02T20:26:41","date_gmt":"2012-11-02T18:26:41","guid":{"rendered":"http:\/\/www.myza.co.za\/11\/s-africas-rand-weakens-in-wake-of-strong-u-s-jobs-data\/"},"modified":"2012-11-02T20:26:41","modified_gmt":"2012-11-02T18:26:41","slug":"s-africas-rand-weakens-in-wake-of-strong-u-s-jobs-data","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-weakens-in-wake-of-strong-u-s-jobs-data\/","title":{"rendered":"S.Africa’s rand weakens in wake of strong U.S. jobs data"},"content":{"rendered":"

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

JOHANNESBURG<\/span> Nov 2 (Reuters) – South Africa’s rand fell
\nmore than 1 percent against a stronger dollar on Friday in the
\nwake of better-than-expected jobs data from the U.S. economy.<\/span><\/p>\n

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

By 1555 GMT, the rand was trading at 8.75 against
\nthe greenback, 1.27 percent weaker than Thursday’s close of
\n8.6400 in New York.<\/p>\n

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

“It’s a combination of dollar strength and gold price
\nweakness that is dominating the rand today,” said Manik Narain,
\na strategist at UBS.<\/p>\n

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

“There seems to be a theme developing in the market where
\nthe dollar is actually proving to be the main beneficiary of
\nthis data as opposed to emerging currencies in general.”<\/p>\n

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

The dollar hit a three-week peak versus the euro after data
\nshowing the world’s largest economy had created more jobs than
\nexpected in September.<\/p>\n

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

Market players say the rand could be undermined by strong
\ndata which favours the dollar and a weakening gold price.<\/p>\n

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

The euro also slipped against the dollar after a Greek court
\nruled the country’s pension reform demanded by foreign lenders
\nmay be unconstitutional, raising concerns about Athens’ ability
\nto implement austerity measures needed to secure aid.<\/p>\n

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

The euro zone is South Africa’s biggest trading bloc
\npartner.<\/p>\n

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

Government bonds were mixed with yields steady at 5.465
\npercent on the 2015 note and 1.5 basis points lower at
\n7.685 percent on the benchmark 2026 issue.<\/p>\n

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

The Johannesburg Stock Exchange changed the
\nbenchmark bond from the R157 to the R186 due to a lack of
\nliquidity on the currency benchmark bond.<\/p>\n

(Reporting By Tshepo Tshabalala; Editing by David Dolan and
\nHugh Lawson)<\/p>\n

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

\n

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

JOHANNESBURG Nov 2 (Reuters) – South Africa’s rand fell more than 1 percent against a stronger dollar on Friday in the wake of better-than-expected jobs data from the U.S. economy. By 1555 GMT, the rand was trading at 8.75 against the greenback, 1.27 percent weaker than Thursday’s close of 8.6400 in New York. “It’s a […]<\/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-16101","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\/16101","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=16101"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16101\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}