{"id":7027,"date":"2012-01-13T20:41:03","date_gmt":"2012-01-13T18:41:03","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africas-rand-falls-2-pct-after-outlook-downgrade\/"},"modified":"2012-01-13T20:41:03","modified_gmt":"2012-01-13T18:41:03","slug":"s-africas-rand-falls-2-pct-after-outlook-downgrade","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-falls-2-pct-after-outlook-downgrade\/","title":{"rendered":"S.Africa&#8217;s rand falls 2 pct after outlook downgrade"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand falls quickly after Fitch cuts outlook<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds sell off following currency<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Jan 13 (Reuters) &#8211; The rand tumbled 2<br \/>\npercent against the dollar late in Friday&#8217;s session as investors<br \/>\ndumped the currency after Fitch downgraded South Africa&#8217;s rating<br \/>\noutlook.<\/p>\n<p><span><\/span><\/p>\n<p>The rand had looked ready to firm through 8 rand to the<br \/>\ndollar, a resistance level, before the announcement, but the<br \/>\ncombination of Fitch&#8217;s action and reports of possible downgrades<br \/>\nto some European countries saw investors march out of risky<br \/>\npositions before the weekend.<\/p>\n<p><span><\/span><\/p>\n<p>The rand weakened to its worst level in a week at<br \/>\n8.2249, retreating quickly from the session high of 8.0235<br \/>\ntouched earlier.<\/p>\n<p><span><\/span><\/p>\n<p>Fitch cut South Africa&#8217;s rating outlook to negative, saying<br \/>\nit had seen limited progress on several long-standing structural<br \/>\nissues that have caused the economy to fall behind its peers.<\/p>\n<p><span><\/span><\/p>\n<p>South African shares also lost on the Fitch move, which is<br \/>\nlikely to see investors charge South Africa more to borrow.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds reacted to the negative mood with yields<br \/>\nclimbing 6.5 basis points to 6.795 percent on the 2015 issue<br \/>\n and 3.5 basis points to 8.565 percent on the 2026 bond<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand falls quickly after Fitch cuts outlook * Bonds sell off following currency JOHANNESBURG Jan 13 (Reuters) &#8211; The rand tumbled 2 percent against the dollar late in Friday&#8217;s session as investors dumped the currency after Fitch downgraded South Africa&#8217;s rating outlook. The rand had looked ready to firm through 8 rand to the [&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-7027","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\/7027","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=7027"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7027\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}