{"id":6676,"date":"2012-01-05T01:17:05","date_gmt":"2012-01-04T23:17:05","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africas-rand-falls-1-6-pct-vs-dlr-bonds-follow\/"},"modified":"2012-01-05T01:17:05","modified_gmt":"2012-01-04T23:17:05","slug":"s-africas-rand-falls-1-6-pct-vs-dlr-bonds-follow","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-falls-1-6-pct-vs-dlr-bonds-follow\/","title":{"rendered":"S.Africa&#8217;s rand falls 1.6 pct vs dlr, bonds follow"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand weakens on added liquidity and European crisis<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds follow currency, illiquid market exaggerates move<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Jan 4 (Reuters) &#8211; The rand fell 1.6<br \/>\npercent against the dollar on Wednesday as a liquidity injection<br \/>\nthrough a central bank auction and persisting concerns around<br \/>\nthe crisis in Europe combined to snap its four-day rally.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on government bonds shot up more than 10 basis points<br \/>\nas the weaker currency in an illiquid market drove prices lower.<\/p>\n<p><span><\/span><\/p>\n<p>The rand traded as weak as 8.1870 in the session,<br \/>\nlevels last seen on December 29, compared with a 8.0570 close in<br \/>\nNew York on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>The currency slid through 8.10 support and is now looking to<br \/>\ntest 8.22, the previous low.<\/p>\n<p><span><\/span><\/p>\n<p>The central bank held its weekly repo auction at midday,<br \/>\nwith commercial banks taking up 19.7 billion rand ($2.41<br \/>\nbillion) into the market, two billion more than at the previous<br \/>\nauction.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The local market has been struggling for liquidity over the<br \/>\nlast week &#8230; (The auction) seems to definitely have had an<br \/>\neffect on the market today. That increased liquidity has likely<br \/>\nedged the rand higher and also probably contributed to the<br \/>\nexaggerated movement in bonds,&#8221; said Rob Price a market analyst<br \/>\nat ETM.<\/p>\n<p><span><\/span><\/p>\n<p>Bond yields shot up on the benchmarks, adding 11 basis<br \/>\npoints to 6.85 percent on the four-year bond and 13.5<br \/>\nbasis points to 8.635 percent on the 2026 issue.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand weakens on added liquidity and European crisis * Bonds follow currency, illiquid market exaggerates move JOHANNESBURG Jan 4 (Reuters) &#8211; The rand fell 1.6 percent against the dollar on Wednesday as a liquidity injection through a central bank auction and persisting concerns around the crisis in Europe combined to snap its four-day rally. [&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-6676","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\/6676","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=6676"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6676\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}