{"id":6527,"date":"2011-12-30T13:04:54","date_gmt":"2011-12-30T11:04:54","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/s-africas-rand-steady-after-dismal-2011\/"},"modified":"2011-12-30T13:04:54","modified_gmt":"2011-12-30T11:04:54","slug":"s-africas-rand-steady-after-dismal-2011","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-steady-after-dismal-2011\/","title":{"rendered":"S.Africa&#8217;s rand steady after dismal 2011"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand ends year as one of worst-performing currencies<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Markets to close at 1000 GMT for year-end<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Dec 30 (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nheld steady against the dollar in early trade on Friday but was<br \/>\nset to end 2011 as one of the worst-performing currencies of the<br \/>\nyear, suffering a whiplash reaction from investors spooked by<br \/>\nEurope&#8217;s debt crisis.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was at 8.17 to the dollar at 0640 GMT, not<br \/>\nfar off its 8.1816 close in New York on Thursday.<\/p>\n<p><span><\/span><\/p>\n<p>The currency opened 2011 at 6.57 against the dollar, but has<br \/>\nsince lost nearly 19 percent in value and stands neck and neck<br \/>\nwith Turkey&#8217;s lira as the poorest emerging market<br \/>\nperformer.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Emerging markets have suffered because of outside<br \/>\ninfluences this year,&#8221; said Jim Bryson, a trader at Rand<br \/>\nMerchant Bank.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Left to our own devices with the strong commodities and<br \/>\neverything else the rand would have had a reasonable year.<br \/>\nThere&#8217;s just been so much going on with Europe that the emerging<br \/>\nmarkets haven&#8217;t been the main focus,&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The currency tested the 8.10 resistance area on Wednesday<br \/>\nbut has since retreated as Europe&#8217;s festering debt crisis has<br \/>\nkept from buying riskier assets.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I expect more of the same today. We&#8217;ve been very range<br \/>\ntrading this week as the year limps to an end,&#8221; Bryson said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand ends year as one of worst-performing currencies * Markets to close at 1000 GMT for year-end JOHANNESBURG Dec 30 (Reuters) &#8211; South Africa&#8217;s rand held steady against the dollar in early trade on Friday but was set to end 2011 as one of the worst-performing currencies of the year, suffering a whiplash reaction [&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-6527","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\/6527","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=6527"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6527\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}