{"id":8083,"date":"2012-02-18T02:10:59","date_gmt":"2012-02-18T00:10:59","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/s-africas-rand-bounces-from-lows-as-stops-triggered\/"},"modified":"2012-02-18T02:10:59","modified_gmt":"2012-02-18T00:10:59","slug":"s-africas-rand-bounces-from-lows-as-stops-triggered","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-bounces-from-lows-as-stops-triggered\/","title":{"rendered":"S.Africa&#8217;s rand bounces from lows as stops triggered"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand ends the week firmer as support holds, triggers stop<br \/>\nlosses<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds follow currency higher in thin volumes<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Feb 17 (Reuters) &#8211; The rand firmed<br \/>\nagainst the dollar on Friday for the first day in four as it<br \/>\nretreated from support levels, and bonds ended the week stronger<br \/>\nin thin trade pending inflation data and the national budget<br \/>\nannouncement next week.<\/p>\n<p><span><\/span><\/p>\n<p>The rand gained nearly 1 percent against the dollar<br \/>\nin Friday&#8217;s session, reversing the week&#8217;s weakening trend as<br \/>\nstop losses were triggered overnight.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There was big (dollar) resistance yesterday at the 7.87\/88<br \/>\nlevel. We saw some exporters selling and I think week-long stops<br \/>\nwere triggered in New York time late last night below 7.80, and<br \/>\nnow we&#8217;re back at support again,&#8221; a Johannesburg dealer said.<\/p>\n<p><span><\/span><\/p>\n<p>The rand strengthened to 7.7160 in the session, after<br \/>\nclosing at 7.7755 in New York trade on Thursday.<\/p>\n<p><span><\/span><\/p>\n<p>Adding support to the local unit were investors&#8217; hopes that<br \/>\nthe Greece bailout package may be secured on Monday, bringing<br \/>\nslight optimism to global markets, which lifted risky assets.<\/p>\n<p><span><\/span><\/p>\n<p>The local bond market was thin on trade on Friday but prices<br \/>\nfollowed the rand firmer. Dealers said they were waiting for<br \/>\nMonday&#8217;s Greece decision then domestic inflation early on<br \/>\nTuesday, before the year&#8217;s Budget policy statement is presented<br \/>\nto parliament at 1200 GMT in Tuesday&#8217;s session.<\/p>\n<p><span><\/span><\/p>\n<p>Economists surveyed by Reuters are expecting a wider budget<br \/>\nshortfall than the government had previously forecast but not<br \/>\nincreased sovereign issuance, which should support bonds.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the 2015 bond last traded 6 basis<br \/>\npoints lower at 6.60 percent in the session, while the 2026<br \/>\nissue dropped 7.5 basis points to 8.23 percent.\t<\/p>\n<p> (Reporting by Xola Potelwa; Editing by Ruth Pitchford)<\/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 ends the week firmer as support holds, triggers stop losses * Bonds follow currency higher in thin volumes JOHANNESBURG Feb 17 (Reuters) &#8211; The rand firmed against the dollar on Friday for the first day in four as it retreated from support levels, and bonds ended the week stronger in thin trade pending [&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-8083","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\/8083","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=8083"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8083\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}