{"id":7866,"date":"2012-02-10T13:56:02","date_gmt":"2012-02-10T11:56:02","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/s-africas-rand-under-pressure-bonds-weaken\/"},"modified":"2012-02-10T13:56:02","modified_gmt":"2012-02-10T11:56:02","slug":"s-africas-rand-under-pressure-bonds-weaken","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-under-pressure-bonds-weaken\/","title":{"rendered":"S.Africa&#8217;s rand under pressure, bonds weaken"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand might retrace to 7.77<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds follow rand weakens<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Feb 10 (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nweakened against the dollar on Friday and is likely to remain<br \/>\nunder pressure as the Reserve Bank steps in to stem a strong<br \/>\nrally this year by buying foreign exchange.<\/p>\n<p><span><\/span><\/p>\n<p>The rand, which lost more than 20 percent against the dollar<br \/>\nlast year, hit a five-month high of 7.52 this week but failed to<br \/>\nbreak resistance at 7.50.<\/p>\n<p><span><\/span><\/p>\n<p>It was trading at 7.6630 to the dollar at 0653 GMT, one<br \/>\npercent weaker than Thursday&#8217;s New York close of 7.5845.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;A retrace back to 7.77 in the short term could be on the<br \/>\ncards after bulls repeatedly failed to breach 7.52 to the<br \/>\ndownside,&#8221; Absa Capital said in a note.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Hence, we suspect that exporters will hold out for better<br \/>\nlevels to repatriate dollar earnings.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>There was muted reaction to President Jacob Zuma&#8217;s pledge in<br \/>\na State of the Nation address late on Thursday to increase<br \/>\ninfrastructure spending in an effort to quicken job creation.<\/p>\n<p><span><\/span><\/p>\n<p>Further details of the investment spending will come out of<br \/>\nthe Finance Minister&#8217;s Budget on Feb. 22.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand might retrace to 7.77 * Bonds follow rand weakens JOHANNESBURG Feb 10 (Reuters) &#8211; South Africa&#8217;s rand weakened against the dollar on Friday and is likely to remain under pressure as the Reserve Bank steps in to stem a strong rally this year by buying foreign exchange. The rand, which lost more than [&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-7866","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\/7866","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=7866"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7866\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}