{"id":6951,"date":"2012-01-11T20:34:45","date_gmt":"2012-01-11T18:34:45","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africas-rand-weakens-but-long-term-bias-positive\/"},"modified":"2012-01-11T20:34:45","modified_gmt":"2012-01-11T18:34:45","slug":"s-africas-rand-weakens-but-long-term-bias-positive","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-weakens-but-long-term-bias-positive\/","title":{"rendered":"S.Africa&#8217;s rand weakens but long-term bias positive"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand goes back to weaker tones vs dlr but long-term looks<br \/>\npositive<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds give up previous gains, following rand<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Jan 11 (Reuters) &#8211; The rand weakened<br \/>\nagainst the dollar on Wednesday, trading at its lowest for the<br \/>\nsession when markets reacted to a warning about the fate of the<br \/>\neuro, which saw investors sell risky assets such as the rand<br \/>\nbefore rallying a touch.<\/p>\n<p><span><\/span><\/p>\n<p>The local currency was set to weaker from the open, having<br \/>\nclosed above key resistance at 8.1025 in New York trade on<br \/>\nTuesday.<\/p>\n<p><span><\/span><\/p>\n<p>Negative risk sentiment from the euro zone crisis sent the<br \/>\nrand to 8.1670 against the dollar on Wednesday, losses<br \/>\nworth 0.8 percent on the previous close.<\/p>\n<p><span><\/span><\/p>\n<p>The rand is a heavily traded emerging market currency,<br \/>\nmostly because of how liquid it is, serving as a barometer for<br \/>\ninvestor risk sentiment. It opened the year on a firm footing,<br \/>\nlooking to break through 8 rand resistance, but was dragged<br \/>\nweaker by euro woes all the way to 8.25 so far this year.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts say real money accounts with a long term view<br \/>\nshould take the rand back to firmer levels, but investors would<br \/>\nhave to be convinced about Europe sorting out its problems.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;If we don&#8217;t have the worst ending of the euro zone<br \/>\nsituation, i.e. the risk-on comes back, the rand will rally. The<br \/>\nhouse view here is that the euro is going to stay and things are<br \/>\ngoing to improve over time,&#8221; said Murat Toprak, a forex<br \/>\nstrategist at HSBC Bank.<\/p>\n<p><span><\/span><\/p>\n<p>A Reuters poll on the rand&#8217;s prospects against the dollar<br \/>\nsees the local unit coming out on top by year-end.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand goes back to weaker tones vs dlr but long-term looks positive * Bonds give up previous gains, following rand JOHANNESBURG Jan 11 (Reuters) &#8211; The rand weakened against the dollar on Wednesday, trading at its lowest for the session when markets reacted to a warning about the fate of the euro, which saw [&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-6951","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\/6951","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=6951"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6951\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}