{"id":6719,"date":"2012-01-05T13:17:36","date_gmt":"2012-01-05T11:17:36","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africa-rand-on-backfoot-bonds-also-weaker\/"},"modified":"2012-01-05T13:17:36","modified_gmt":"2012-01-05T11:17:36","slug":"s-africa-rand-on-backfoot-bonds-also-weaker","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-on-backfoot-bonds-also-weaker\/","title":{"rendered":"S.Africa rand on backfoot, bonds also weaker"},"content":{"rendered":"

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

JOHANNESBURG<\/span> Jan 5 (Reuters) – South Africa’s rand
\nwas on the back foot against the dollar on Thursday after
\nshedding as much as 1.6 percent the previous session, with euro
\nzone debt worries rekindling aversion towards emerging market
\nassets perceived as carrying higher risk.<\/span><\/p>\n

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

Government bonds added to the previous day’s losses, with
\ntraders pointing to prospects of increased supply when the
\nNational Treasury resumes its weekly auctions next week after a
\nbrief hiatus for the just-ended festive holidays.<\/p>\n

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

At 0641 GMT the rand was at 8.1750 against the
\ndollar, down 0.65 percent from Wednesday’s close at 8.1250.<\/p>\n

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

It tracked the euro, the currency of South Africa’s main
\ntrading partner, which came under pressure as markets refocused
\non concerns about the euro zone debt crisis ahead of a French
\ndebt auction later in the session.<\/p>\n

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

“The euro started the year fairly perky but seems to have
\nlost its lustre a little bit and on the back of that, below 8.10
\nthere seems to be fairly good demand for dollar\/rand,” a
\nJohannesburg trader said.<\/p>\n

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

“I would imagine the rand is going to continue tracking the
\nusual suspects, that is the euro and other emerging markets. If
\nanything we could tend a bit weaker but maybe not at such a
\nrapid pace,” he said, adding markets were starved of any
\ndomestic data or news at the moment to drive the currency.<\/p>\n

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

On the debt market, bonds extended Wednesday’s losses, with
\nthe yields on the heavily traded 2015 and 2026
\n issues each adding 2.5 basis points to 6.875 percent
\nand 8.66 percent respectively.<\/p>\n

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

“Yields fell over the last two weeks with no liquidity and
\nnow it’s just sanity prevailing,” Investec bond trader Steve
\nArnold said.<\/p>\n

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

“Also a slightly weaker rand and an announcement of next
\nweek’s bond auciton has seen a little bit of profit-taking,” he
\nadded.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

JOHANNESBURG Jan 5 (Reuters) – South Africa’s rand was on the back foot against the dollar on Thursday after shedding as much as 1.6 percent the previous session, with euro zone debt worries rekindling aversion towards emerging market assets perceived as carrying higher risk. Government bonds added to the previous day’s losses, with traders pointing […]<\/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-6719","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\/6719","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=6719"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6719\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}