{"id":7928,"date":"2012-02-14T02:03:55","date_gmt":"2012-02-14T00:03:55","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/s-africas-rand-gives-up-earlier-gains-bonds-up\/"},"modified":"2012-02-14T02:03:55","modified_gmt":"2012-02-14T00:03:55","slug":"s-africas-rand-gives-up-earlier-gains-bonds-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-gives-up-earlier-gains-bonds-up\/","title":{"rendered":"S.Africa’s rand gives up earlier gains, bonds up"},"content":{"rendered":"

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

* Market uncertain about Greek bailout<\/span><\/p>\n

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

* Bonds still supported by volumes thin<\/p>\n

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

JOHANNESBURG<\/span> Feb 13 (Reuters) – The South African
\nrand strengthened against the dollar on Monday but relinquished
\nsome of its earlier gains in an uncertain market still awaiting
\na resolution to Greece’s debt woes.<\/p>\n

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

Demand for high-yielding local debt held up fairly well,
\nalthough traders said investors were reluctant to take
\nsignificant positions ahead of a meeting later in the week on a
\nbailout for Greece.<\/p>\n

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

The rand gained as much as 1.2 percent to a session high of
\n7.6440\/dollar in morning trade, but came off to 7.7050 by 1551
\nGMT, up 0.45 percent from Friday’s 7.7395 close in New York.<\/p>\n

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

“There’s still a lot of uncertainty in the market and we’ve
\nseen the euro come back from 1.3260\/dollar this morning right
\ndown to 1.3220. There’s just a little bit of risk aversion and
\non the back of that you’ve seen the rand back above 7.70 again,”
\nsaid Brigid Taylor, Head of Institutional Sales at Nedbank.<\/p>\n

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

“We’re looking, at the moment, at a range of 7.65-80 for the
\nrest of the week with upside (weaker) potential purely because
\nof the uncertainty around the outcome in Greece. If this all
\ndoes get resolved it will be good for risk appetite around
\nemerging markets, specifically the high yielders because
\ninterest rates are flat globally.”<\/p>\n

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

High yields compared to those in developed countries have
\nkept investors interested in South African debt, with foreigners
\nbuying a net 989.2 million rand worth of local bonds last week.<\/p>\n

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

On Monday the yields on the benchmarket three-year
\nand 14-year bonds each closed 6.5 basis points lower
\nat 6.575 percent and 8.245 percent respectively.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Market uncertain about Greek bailout * Bonds still supported by volumes thin JOHANNESBURG Feb 13 (Reuters) – The South African rand strengthened against the dollar on Monday but relinquished some of its earlier gains in an uncertain market still awaiting a resolution to Greece’s debt woes. Demand for high-yielding local debt held up fairly […]<\/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-7928","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\/7928","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=7928"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7928\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}