{"id":6639,"date":"2012-01-04T01:12:50","date_gmt":"2012-01-03T23:12:50","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africa-rand-starts-2012-firm-volatility-to-persist\/"},"modified":"2012-01-04T01:12:50","modified_gmt":"2012-01-03T23:12:50","slug":"s-africa-rand-starts-2012-firm-volatility-to-persist","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-starts-2012-firm-volatility-to-persist\/","title":{"rendered":"S.Africa rand starts 2012 firm, volatility to persist"},"content":{"rendered":"

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

* Rand has bullish start to the year<\/span><\/p>\n

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

* Bond market still quiet, more movement expected in next
\nsession<\/p>\n

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

JOHANNESBURG<\/span> Jan 3 (Reuters) – South Africa’s rand
\nfirmed to a three-week high against the dollar in a bullish
\nstart to the year, as investors unloaded dollars to take on risk
\non Tuesday.<\/p>\n

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

Government bonds barely moved and volumes remain thin as
\nplayers drifted back slowly to the markets after the end of year
\nholiday lull. Investors will likely take positions after the
\ngovernment announces next week’s auction plans in Wednesday’s
\nsession.<\/p>\n

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

The rand was firming for the fourth day on Tuesday
\nand traded as strong as 8.02 against the dollar, levels last
\nseen on December 8. It was up 0.7 percent from its previous
\n8.0750 close in New York trade.<\/p>\n

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

“So far we’ve opened pretty much risk on. I think that’s
\nmore a factor of guys wanting to take profits on dollar long
\npositions,” said Oliver Alwar a trader at Standard Bank.<\/p>\n

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

“If you look at market positioning, the markets have been
\nshort euro for quite some time but going into year end and at
\nthe start of the year we’ve seen people lightening on dollar
\nlong positions, that’s why we’ve seen a weaker dollar.”<\/p>\n

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

The dollar made about 22 percent worth of gains on the rand
\nin 2011, making the rand one of the worst performing emerging
\nmarket currencies.<\/p>\n

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

Dealers expect volatility to remain a challenge this year
\nwhile Europe’s debt crisis persists and makes any rand gains
\ndifficult.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand has bullish start to the year * Bond market still quiet, more movement expected in next session JOHANNESBURG Jan 3 (Reuters) – South Africa’s rand firmed to a three-week high against the dollar in a bullish start to the year, as investors unloaded dollars to take on risk on Tuesday. Government bonds barely […]<\/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-6639","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\/6639","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=6639"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6639\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}