{"id":6042,"date":"2011-12-13T00:11:08","date_gmt":"2011-12-12T22:11:08","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-africas-rand-drops-over-2-pct-against-dollar\/"},"modified":"2011-12-13T00:11:08","modified_gmt":"2011-12-12T22:11:08","slug":"s-africas-rand-drops-over-2-pct-against-dollar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-drops-over-2-pct-against-dollar\/","title":{"rendered":"S.Africa&#8217;s rand drops over 2 pct against dollar"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand down 2.4 percent vs dollar in thin trade<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bond yields rise for six straight days<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Dec 12 (Reuters) &#8211; The rand fell 2.4<br \/>\npercent against the dollar on Monday and government bonds<br \/>\nextended last week&#8217;s losses as South African markets suffered<br \/>\nanother bout of investor risk-aversion.<\/p>\n<p><span><\/span><\/p>\n<p>The rand opened at 8.10 and even firmed slightly in early<br \/>\ntrade but was down 2.4 percent to 8.2760 by late afternoon as<br \/>\ninvestors withdrew from risky positions while a solution to<br \/>\nEurope&#8217;s debt crisis eludes markets.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The rand remains on the back foot as it seems fresh<br \/>\nrealisations that the (EU) summit provided little to address the<br \/>\ndebt crisis are sinking in,&#8221; said Anisha Arora, emerging market<br \/>\nanalyst at London-based 4Cast.<\/p>\n<p><span><\/span><\/p>\n<p>However, dollar gains on the rand are seen capped below the<br \/>\n8.30 level despite the euro&#8217;s weakness in the session, as the<br \/>\nrand&#8217;s previously strong correlation with the euro subsides<br \/>\nduring thin holiday trade.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Nevertheless EUR\/USD remains a proxy for general risk<br \/>\nappetite and is a key rand river,&#8221; Arora added.<\/p>\n<p><span><\/span><\/p>\n<p>Volumes were looking to come in at five-month lows by end of<br \/>\ntrade.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on the benchmark four-year and 15-year<br \/>\n government bonds rose for the sixth day.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand down 2.4 percent vs dollar in thin trade * Bond yields rise for six straight days JOHANNESBURG Dec 12 (Reuters) &#8211; The rand fell 2.4 percent against the dollar on Monday and government bonds extended last week&#8217;s losses as South African markets suffered another bout of investor risk-aversion. The rand opened at 8.10 [&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-6042","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\/6042","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=6042"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6042\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}