{"id":6366,"date":"2011-12-23T00:40:49","date_gmt":"2011-12-22T22:40:49","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-africas-rand-firms-within-range-against-dollar\/"},"modified":"2011-12-23T00:40:49","modified_gmt":"2011-12-22T22:40:49","slug":"s-africas-rand-firms-within-range-against-dollar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-firms-within-range-against-dollar\/","title":{"rendered":"S.Africa’s rand firms within range against dollar"},"content":{"rendered":"

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

* Rand firms within previous levels against dollar<\/span><\/p>\n

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

* Bonds continue stronger bias in shorter trading hours<\/p>\n

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

JOHANNESBURG<\/span> Dec 22 (Reuters) – South Africa’s rand
\nfirmed against the dollar but traded within the previous
\nsession’s levels on Thursday as the currency tracked moves in
\nthe euro, with domestic drivers absent as trade thinned ahead of
\nthe holidays.<\/p>\n

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

The rand was at 8.1350 to the dollar at 1518 GMT,
\n1.3 percent firmer than Wednesday’s close in New York trade.<\/p>\n

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

It strengthened to 8.07 on Wednesday but has only reached
\n8.1235 on Thursday as the euro fell against the dollar in the
\nlater part of the session, capping rand gains.<\/p>\n

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

“It’s thin markets. Dollar\/rand has traded in the expected
\nrange of 8.1000-8.3000, with the rand this afternoon following
\neuro\/dollar lower,” said Christopher Shiells, an emerging
\nmarkets analyst at Informa Global Markets (IGM).<\/p>\n

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

Jobs data out of the United States came out better than
\nexpected, suggesting a recovery in that labour market was
\ngaining speed, which boosted the dollar against the
\ndebt-stricken euro region’s single currency.<\/p>\n

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

The rand will first look to break through Wednesday’s 8.07
\nlevel, before meeting next resistance at Dec. 8’s 8.01 region.<\/p>\n

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

“On the upside we expect a test of the year high of 8.6000
\nin early January if the euro zone crisis does not show signs of
\nimproving,” IGM’s Shiells said, adding the rand was unlikely to
\ndo anything outside of following the euro\/dollar pair until the
\nend of the year.<\/p>\n

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

Government bonds ended firmer with the yield on the
\nbenchmark four-year bond down 3 basis points to 6.76
\npercent while the 15-year benchmark yield dropped 2 basis points
\nto 8.535 percent.<\/p>\n

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

The local bond market is trading at shortened hours, up
\nuntil 1000 GMT, until December 30.\t<\/p>\n

(Reporting by Xola Potelwa; Editing by Catherine Evans)<\/p>\n

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

\n

\t\t\u00a9 Thomson Reuters 2011 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand firms within previous levels against dollar * Bonds continue stronger bias in shorter trading hours JOHANNESBURG Dec 22 (Reuters) – South Africa’s rand firmed against the dollar but traded within the previous session’s levels on Thursday as the currency tracked moves in the euro, with domestic drivers absent as trade thinned ahead of […]<\/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-6366","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\/6366","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=6366"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6366\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}