{"id":8262,"date":"2012-02-24T02:33:15","date_gmt":"2012-02-24T00:33:15","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/s-africas-rand-gains-but-bonds-extend-losses\/"},"modified":"2012-02-24T02:33:15","modified_gmt":"2012-02-24T00:33:15","slug":"s-africas-rand-gains-but-bonds-extend-losses","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-gains-but-bonds-extend-losses\/","title":{"rendered":"S.Africa’s rand gains but bonds extend losses"},"content":{"rendered":"

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

* Rand benefits as dollar weakens<\/span><\/p>\n

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

* Bonds weaker, PPI boost not enough<\/p>\n

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

JOHANNESBURG<\/span> Feb 23 (Reuters) – South Africa’s rand
\ngained against the dollar on Thursday,
\ntaking its cue from a euro that hit multi-week highs on German
\ndata that eased concerns about growth in the euro zone.<\/p>\n

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

Government bonds extended losses, still smarting from supply
\nworries as the market was unconvinced that government’s narrower
\nbudget deficit targets in Wednesday’s budget were realistic.<\/p>\n

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

Bonds were off session lows though after softer than
\nexpected PPI data that showed producer inflation slowed more
\nthan expected to 8.9 percent year-on-year in January.<\/p>\n

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

The rand hit a session high of 7.6640 to the dollar
\nearlier, and was last trading at 7.6912, 0.53 percent firmer
\nthan Wednesday’s New York close of 7.7350.<\/p>\n

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

“Dollar\/rand has come down to the lower half of its
\n7.61-7.75 range but the inability of euro\/rand to follow this
\nmove indicates this it is a pure euro\/dollar driven adjustment,”
\nsaid Gabor Ambrus, emerging market analyst at 4CAST.<\/p>\n

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

The euro zone is South Africa’s largest trading partner and
\nthe rand tends to follow the movements of the single currency.<\/p>\n

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

The euro hit 10-week highs to the dollar earlier as German
\nbusiness sentiment rose for the fourth month running in
\nFebruary, raising hopes that Europe’s largest economy is
\nimproving and will avoid recession.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Rand benefits as dollar weakens * Bonds weaker, PPI boost not enough JOHANNESBURG Feb 23 (Reuters) – South Africa’s rand gained against the dollar on Thursday, taking its cue from a euro that hit multi-week highs on German data that eased concerns about growth in the euro zone. Government bonds extended losses, still smarting […]<\/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-8262","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\/8262","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=8262"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8262\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}