{"id":6861,"date":"2012-01-09T20:30:39","date_gmt":"2012-01-09T18:30:39","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africas-rand-bonds-weaken-in-thin-market\/"},"modified":"2012-01-09T20:30:39","modified_gmt":"2012-01-09T18:30:39","slug":"s-africas-rand-bonds-weaken-in-thin-market","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-bonds-weaken-in-thin-market\/","title":{"rendered":"S.Africa&#8217;s rand, bonds weaken in thin market"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand weakens vs dollar but has scope to gain against euro<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bond yields rise but 2015 issue could be oversold<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Jan 9 (Reuters) &#8211; The rand followed the<br \/>\neuro to trade weaker against the dollar on Monday with the South<br \/>\nAfrican currency seen consolidating in its recent range ahead of<br \/>\nmanufacturing data due later in the week.<\/p>\n<p><span><\/span><\/p>\n<p>The euro zone is South Africa&#8217;s biggest trading region and<br \/>\nthe rand&#8217;s fate is strongly linked to what happens to the single<br \/>\ncurrency.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was steady in late afternoon trade but was<br \/>\nweaker on the day, trading as low at 8.20 from a 8.1867 close in<br \/>\nNew York on Monday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The danger is still in the rand being a little bit weaker<br \/>\n(against the dollar) because of the euro,&#8221; said Jim Bryson, a<br \/>\ncurrency trader at Rand Merchant Bank.<\/p>\n<p><span><\/span><\/p>\n<p>Market players were slowly coming back after the holiday and<br \/>\nactivity should pick up during the week.<\/p>\n<p><span><\/span><\/p>\n<p>The currency took big falls last week, trading up to 8.25.<br \/>\nDealers now see the rand consolidating within 8.22 and 8.12,<br \/>\nlooking to the euro for direction and awaiting potential<br \/>\nmarket-moving manufacturing data on Thursday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;If we&#8217;re going to see any strength in the rand it&#8217;ll be<br \/>\nreflected in euro\/rand rather than dollar\/rand. Dollar\/rand<br \/>\nlooks very range bound and we can strengthen against the euro<br \/>\nbecause the euro is in a bit of trouble,&#8221; Bryson said, adding he<br \/>\nwould be watching to see if euro\/rand breaks any key levels<br \/>\nwhich would give direction to the rand.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds fell along with the currency. The yield on<br \/>\nthe 2015 government bond was at 6.895 percent but<br \/>\nanalysts said the bond might be oversold and set for a bounce<br \/>\nback from weaker levels.<\/p>\n<p><span><\/span><\/p>\n<p>Activity from foreign accounts started the year poorly, with<br \/>\noffshore investors offloading 379 million rand of South African<br \/>\ndebt in the first week of the year. \t<\/p>\n<p> (Reporting by Xola Potelwa; editing by Anna Willard)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand weakens vs dollar but has scope to gain against euro * Bond yields rise but 2015 issue could be oversold JOHANNESBURG Jan 9 (Reuters) &#8211; The rand followed the euro to trade weaker against the dollar on Monday with the South African currency seen consolidating in its recent range ahead of manufacturing data [&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-6861","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\/6861","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=6861"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6861\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}