{"id":6276,"date":"2011-12-20T12:34:14","date_gmt":"2011-12-20T10:34:14","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-africas-rand-slightly-up-bonds-firmer\/"},"modified":"2011-12-20T12:34:14","modified_gmt":"2011-12-20T10:34:14","slug":"s-africas-rand-slightly-up-bonds-firmer","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-slightly-up-bonds-firmer\/","title":{"rendered":"S.Africa&#8217;s rand slightly up, bonds firmer"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Dec 1 (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nwas slightly firmer against the dollar on Tuesday and government<br \/>\nbonds also edged higher, but worries about the euro zone credit<br \/>\ncrisis were likely to limit gains.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand was up 0.32 percent at 8.37 to the<br \/>\ngreenback by 0653 GMT after ending Monday&#8217;s session at 8.3970.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The rand will struggle to rally back to levels more in line<br \/>\nwith South African fundamentals whilst a major credit crunch is<br \/>\nunfolding abroad,&#8221; Tradition Analytics said in a note to<br \/>\nclients.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It is safe to say that the credit crunch is elevating risk<br \/>\nand withdrawing liquidity from emerging markets whose currencies<br \/>\nwould otherwise be trading at far stronger levels than is the<br \/>\ncase at the moment.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The rand has been hit by heightened global risk aversion,<br \/>\nparticularly in the second half of this year, as investors worry<br \/>\nabout the impact of a sovereign debt crisis affecting some euro<br \/>\nzone nations.<\/p>\n<p><span><\/span><\/p>\n<p>The domestic currency is on track to end the year more than<br \/>\n20 percent weaker against the dollar, which would be its worst<br \/>\nannual performance since 2008.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s government bonds were firmer on Tuesday, and<br \/>\nyields fell in tandem.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the four-year bond was down three<br \/>\nbasis points at 6.91 while that on the longer-dated 2026<br \/>\n was down five basis points at 8.655 percent.\t<\/p>\n<p> (Reporting by Stella Mapenzauswa; editing by David Dolan)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2011 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG Dec 1 (Reuters) &#8211; South Africa&#8217;s rand was slightly firmer against the dollar on Tuesday and government bonds also edged higher, but worries about the euro zone credit crisis were likely to limit gains. The rand was up 0.32 percent at 8.37 to the greenback by 0653 GMT after ending Monday&#8217;s session at 8.3970. 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