{"id":6605,"date":"2012-01-03T13:11:58","date_gmt":"2012-01-03T11:11:58","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africa-rand-starts-year-on-firmer-footing\/"},"modified":"2012-01-03T13:11:58","modified_gmt":"2012-01-03T11:11:58","slug":"s-africa-rand-starts-year-on-firmer-footing","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-starts-year-on-firmer-footing\/","title":{"rendered":"S.Africa rand starts year on firmer footing"},"content":{"rendered":"

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

* Rand seen range bound in thin trading volumes<\/span><\/p>\n

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

* Government bonds flat in early trade<\/p>\n

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

JOHANNESBURG<\/span> Jan 3 (Reuters) – South Africa’s rand
\nwas slightly firmer against the dollar on the second trading day
\nof the year on Tuesday and should stay largely rangebound as
\nmarket players drift slowly back after the Christmas and New
\nYear breaks.<\/p>\n

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

Local traders returned to the market on Tuesday after local
\nexchanges were closed for a post New Year public holiday in
\nSouth Africa on Monday.<\/p>\n

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

By 0639 GMT the local currency was up 0.28 percent
\non the day at 8.0520 to the dollar compared with Monday’s close
\nat 8.0750.<\/p>\n

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

“The rand is slightly higher, we did see it testing the lows
\nof the day, but it’s still thin liquidity at the moment, so it’s
\ngoing to be quite difficult,” RMB trader Lee Naisbitt said.<\/p>\n

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

“I think for now we’re still in a range. If we manage to get
\nthrough 8.03 we should target a bit lower ( a firmer rand). But
\nto start off the day we’re looking at 8.03-8.08. It’s gonna be
\nquite erratic and pretty rangebound this week.”<\/p>\n

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

The rand, a very liquid currency, plunged nearly 22 percent
\nagainst the dollar in 2011, one of the steepest falls globally,
\ntaking the brunt of an emerging market asset sell-off as
\ninvestors worried about the effects of a debt crisis in the euro
\nzone.<\/p>\n

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

On Tuesday the rand took its cue from Europe’s common
\ncurrency, which edged higher against the dollar and the yen but
\nlooked set to remain under pressure in 2012.<\/p>\n

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

Government debt was flat as the Johannesburg bond exchange
\nresumed trade for the year, with the heavily traded 2015 issue
\n unchanged from its Dec. 30 close of 6.73 percent, as
\nwas the longer dated 2026 bond at 8.485 percent.<\/p>\n

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

South African high-yielding bonds held up well despite last
\nyear’s global flight from higher-risk assets, with net foreign
\ninflows in 2011 reaching about 48 billion rand, according to
\ndata from the local exchange. \t<\/p>\n

(Reporting by Stella Mapenzauswa, editing by Ed Stoddard)<\/p>\n

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

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand seen range bound in thin trading volumes * Government bonds flat in early trade JOHANNESBURG Jan 3 (Reuters) – South Africa’s rand was slightly firmer against the dollar on the second trading day of the year on Tuesday and should stay largely rangebound as market players drift slowly back after the Christmas and […]<\/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-6605","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\/6605","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=6605"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6605\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}