{"id":6492,"date":"2011-12-29T01:02:37","date_gmt":"2011-12-28T23:02:37","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-africas-rand-firms-stuck-at-resistance-level\/"},"modified":"2011-12-29T01:02:37","modified_gmt":"2011-12-28T23:02:37","slug":"s-africas-rand-firms-stuck-at-resistance-level","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-firms-stuck-at-resistance-level\/","title":{"rendered":"S.Africa&#8217;s rand firms, stuck at resistance level"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand firms but meets resistance at 8.10\/usd<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds barely changed in short trading hours<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Dec 28 (Reuters) &#8211; The rand firmed for a<br \/>\nfifth day against the dollar on Wednesday, boosted by year-end<br \/>\nflows and support for riskier assets from a stable euro.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was 0.4 percent firmer against the dollar at 8.1190<br \/>\nby 1430 GMT, up from its previous close at 8.15. It strengthened<br \/>\nto 8.10 in the session before bouncing back from that resistance<br \/>\nlevel as trading volumes stayed thin.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Although euro\/dollar has been mostly rangebound, the rand<br \/>\nmay be getting support from a few year-end flows, allowing the<br \/>\nunit to firm,&#8221; said Anisha Arora, an emerging markets analyst at<br \/>\n4Cast Limited.<\/p>\n<p><span><\/span><\/p>\n<p>Resistance at both 8.10 and 8.00 should provide tough<br \/>\nbarriers in such an illiquid market.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The dollar\/rand 8.10 area should hold quite well,<br \/>\nespecially as the rand is still vulnerable to the euro&#8217;s swings<br \/>\nin the thin liquidity environment, and given that there is<br \/>\nnothing really positive in the current market to suggest rand<br \/>\nstrengthening,&#8221; Arora added.<\/p>\n<p><span><\/span><\/p>\n<p>The rand has traded weaker than 8 per dollar for most of the<br \/>\npast two months and, with just two days of trading left in the<br \/>\nyear, is unlikely to breach that level.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds were barely changed in Wednesday&#8217;s<br \/>\nshortened session, with most yields nudging only half a basis<br \/>\npoint lower compared to Friday&#8217;s close.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand firms but meets resistance at 8.10\/usd * Bonds barely changed in short trading hours JOHANNESBURG Dec 28 (Reuters) &#8211; The rand firmed for a fifth day against the dollar on Wednesday, boosted by year-end flows and support for riskier assets from a stable euro. The rand was 0.4 percent firmer against the dollar [&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-6492","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\/6492","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=6492"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6492\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}