{"id":6382,"date":"2011-12-23T12:41:57","date_gmt":"2011-12-23T10:41:57","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-africas-rand-slightly-firmer-against-dollar\/"},"modified":"2011-12-23T12:41:57","modified_gmt":"2011-12-23T10:41:57","slug":"s-africas-rand-slightly-firmer-against-dollar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-slightly-firmer-against-dollar\/","title":{"rendered":"S.Africa&#8217;s rand slightly firmer against dollar"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand firms within range against dollar<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds supported by little supply<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Dec 23 (Reuters) &#8211; The rand was firm<br \/>\nagainst the dollar in early trade on Friday but looked to close<br \/>\nwithin last week&#8217;s range as thin trade and lack of market-moving<br \/>\ndata see the local currency follow the euro&#8217;s moves.<\/p>\n<p><span><\/span><\/p>\n<p>Bonds are expected to continue their gradual gains in the<br \/>\nsession as reinvestment of coupon payments and an illiquid<br \/>\nmarket pushes prices to a two-week high.<\/p>\n<p><span><\/span><\/p>\n<p>The local market is likely to wind down at around 1000 GMT<br \/>\nas dealers, having already squared up their positions, are<br \/>\nlikely to take off early ahead of a long Christmas weekend.<\/p>\n<p><span><\/span><\/p>\n<p>South African markets will be closed on Monday and Tuesday<br \/>\nfor national holidays.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was 0.28 percent firmer against the dollar<br \/>\nat 8.1702 by 0637 GMT. It closed in the New York session at<br \/>\n8.1930.<\/p>\n<p><span><\/span><\/p>\n<p>Resistance for the currency is seen at the 8.07 to 8.10 area<br \/>\nand through 8 rand would mark a bear trend for the dollar.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on the most heavily traded benchmark government bonds<br \/>\nhave gradually fallen but were steady at 6.75 percent on the<br \/>\n2015 bond and 8.535 percent on the 2026 bond<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;December and January coupon flows are plus-minus 12 billion<br \/>\nrand, if there was to be any re investment, it would pull yields<br \/>\nlower without any supply, coupled with a slightly stronger rand<br \/>\nand very little liquidity,&#8221; said Steve Arnold, a bond trader at<br \/>\nInvestec Bank.<br \/>\n  With a lot of investors said to have closed their books early<br \/>\nthis year, Treasury has offered a reduced number of Treasury<br \/>\nBills for auction this week. Results are due at 1000 GMT.\t<\/p>\n<p> (Reporting by Xola Potelwa; 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>* Rand firms within range against dollar * Bonds supported by little supply JOHANNESBURG Dec 23 (Reuters) &#8211; The rand was firm against the dollar in early trade on Friday but looked to close within last week&#8217;s range as thin trade and lack of market-moving data see the local currency follow the euro&#8217;s moves. Bonds [&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-6382","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\/6382","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=6382"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}