{"id":6298,"date":"2011-12-21T00:35:42","date_gmt":"2011-12-20T22:35:42","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-africas-rand-touches-near-week-high-bonds-up\/"},"modified":"2011-12-21T00:35:42","modified_gmt":"2011-12-20T22:35:42","slug":"s-africas-rand-touches-near-week-high-bonds-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-touches-near-week-high-bonds-up\/","title":{"rendered":"S.Africa&#8217;s rand touches near-week high, bonds up"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand best former in basket of EM currencies<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Trading volumes thin ahead of year-end<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Dec 20 (Reuters) &#8211; South Africa&#8217;s<br \/>\ngovernment bonds edged higher while the rand jumped as much as<br \/>\ntwo percent against the dollar in thin year-end trade on<br \/>\nTuesday, tracking gains in the euro after a well-supported<br \/>\nSpanish debt auction.<\/p>\n<p><span><\/span><\/p>\n<p>The rand scaled a near-week high of 8.2191 to the<br \/>\ngreenback, making it the best performer among 20 emerging market<br \/>\ncurrencies monitored by Reuters, and was up 1.75 percent at 8.25<br \/>\nby 1552 GMT compared with Monday&#8217;s close at 8.3970.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The main factors today were the very strong Spanish auction<br \/>\nthis morning where yields came down substantially from prior<br \/>\nauctions,&#8221; ETM market analyst Chris Becker said, adding this<br \/>\nboosted risk sentiment, battered in recent months by worries<br \/>\nover the indebtedness of some euro zone states.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There were some very strong housing figures out of the U.S.<br \/>\nas well and so the dollar is coming under pressure. I would say<br \/>\nit&#8217;s possible that we go below 8.00\/dollar again (before<br \/>\nyear-end).&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds were also firmer, with data from the<br \/>\nJohannesburg securities exchange showing foreign demand for<br \/>\nlocal debt remains fairly strong.<\/p>\n<p><span><\/span><\/p>\n<p>The yields on the four-year bond and the<br \/>\nlonger-dated 2026 were each down two basis points at<br \/>\n6.89 percent and 8.635 percent respectively.<\/p>\n<p><span><\/span><\/p>\n<p>Foreigners have bought a net 48.8 billion rand ($5.82<br \/>\nbillion) worth of South Africa&#8217;s high yielding bonds so far this<br \/>\nyear, although this is down from 66 billion rand over the same<br \/>\nperiod in 2010.<\/p>\n<p><span><\/span><\/p>\n<p>Despite the bond flows, the rand is still down more than 23<br \/>\npercent against the greenback so far this year, hit by<br \/>\nheightened global risk aversion particularly in the second half<br \/>\nof this year, on fears of global contagion from the debt crunch<br \/>\nin Europe.<br \/>\n($1 = 8.3836 South African rand)\t<\/p>\n<p> (Reporting by Stella Mapenzauswa; editing by Ron Askew)<\/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>* Rand best former in basket of EM currencies * Trading volumes thin ahead of year-end JOHANNESBURG Dec 20 (Reuters) &#8211; South Africa&#8217;s government bonds edged higher while the rand jumped as much as two percent against the dollar in thin year-end trade on Tuesday, tracking gains in the euro after a well-supported Spanish debt [&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-6298","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\/6298","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=6298"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6298\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}