{"id":8387,"date":"2012-02-27T14:39:37","date_gmt":"2012-02-27T12:39:37","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/south-africas-rand-steady-tracking-euro-moves\/"},"modified":"2012-02-27T14:39:37","modified_gmt":"2012-02-27T12:39:37","slug":"south-africas-rand-steady-tracking-euro-moves","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/south-africas-rand-steady-tracking-euro-moves\/","title":{"rendered":"South Africa&#8217;s rand steady, tracking euro moves"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand will take its cue from abroad<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Currency could test 7.54 against the dollar<\/p>\n<p><span><\/span><\/p>\n<p>* ECB to pump more liquidity<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Feb 27 (Reuters) &#8211; South Africa&#8217;s was<br \/>\nlittle changed on Monday against the dollar as  local traders<br \/>\nlooked to the euro, the currency of its biggest trading partner,<br \/>\nfor more direction.<\/p>\n<p><span><\/span><\/p>\n<p>The European Central Bank (ECB) will offer this week, for<br \/>\nthe second time, an unlimited volume of cheap three-year loans<br \/>\nto European banks, which could see the rand strengthen in tandem<br \/>\nwith the euro.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It is going to be very euro dependent, whatever the euro<br \/>\ndoes, (it will follow), if the euro pushes on to 1.3460-80, I<br \/>\nthink the rand will test 7.54-56,&#8221; said Jim Bryson, a trader at<br \/>\nRand Merchant Bank.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was trading at 7.6045 against the dollar<br \/>\nat 0654 GMT, compared with Friday&#8217;s New York close of 7.595.<\/p>\n<p><span><\/span><\/p>\n<p>Traders are also likely to watch final GDP number for 2011<br \/>\nwhich could also give a further outlook for interest rates in<br \/>\nAfrica biggest economy. Statistics South Africa releases<br \/>\neconomic growth data on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>The National Treasury cut its 2012 economic growth forecast<br \/>\nto 2.7 percent from an October projection of 3.4 percent, while<br \/>\nit estimated 2011 growth at 3.1 percent.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand will take its cue from abroad * Currency could test 7.54 against the dollar * ECB to pump more liquidity JOHANNESBURG, Feb 27 (Reuters) &#8211; South Africa&#8217;s was little changed on Monday against the dollar as local traders looked to the euro, the currency of its biggest trading partner, for more direction. 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-8387","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\/8387","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=8387"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8387\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}