{"id":8453,"date":"2012-03-01T02:45:08","date_gmt":"2012-03-01T00:45:08","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-africas-rand-at-5-month-high-on-yield-pick-up\/"},"modified":"2012-03-01T02:45:08","modified_gmt":"2012-03-01T00:45:08","slug":"s-africas-rand-at-5-month-high-on-yield-pick-up","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-at-5-month-high-on-yield-pick-up\/","title":{"rendered":"S.Africa&#8217;s rand at 5-month high on yield pick up"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand gains nearly 1 percent on ECB liquidity injection<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Shrugs off wider-than-expected Jan trade deficit<\/p>\n<p><span><\/span><\/p>\n<p>By Xola Potelwa<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Feb 29 (Reuters) &#8211; The rand firmed<br \/>\nnearly one percent on the dollar on Wednesday as risky assets<br \/>\ngained from a cash injection from the European Central Bank,<br \/>\nleading the local currency to shrug off a gaping trade deficit<br \/>\nnumber reported during the session.<\/p>\n<p><span><\/span><\/p>\n<p>The ECB&#8217;s three-year liquidity injection boosted the<br \/>\nrisk-prone local unit as the money was expected to find a home<br \/>\nin emerging market assets such as the rand through carry trades,<br \/>\nwhere investors use lower-yielding currencies to buy riskier and<br \/>\nhigher yielding assets.<\/p>\n<p><span><\/span><\/p>\n<p>The rand gained 0.6 percent on the euro and 0.9<br \/>\npercent on the dollar during the session.<\/p>\n<p><span><\/span><\/p>\n<p>South Africa&#8217;s trade account showed a gaping 13.5 billion<br \/>\nrand ($1.8 billion) hole in January, nearly 10 billion rand<br \/>\nwider than market expectations and the biggest trade deficit<br \/>\nsince January 2009.<\/p>\n<p><span><\/span><\/p>\n<p>However the rand was hardly moved by the weak data.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The trade data had limited impact on the rand, the long<br \/>\nterm refinancing operation has provided nice cushions and<br \/>\ndollar\/rand remains at fresh year-to-date lows,&#8221; said Gabor<br \/>\nAmbrus, emerging market analyst at 4Cast.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand gains nearly 1 percent on ECB liquidity injection * Shrugs off wider-than-expected Jan trade deficit By Xola Potelwa JOHANNESBURG, Feb 29 (Reuters) &#8211; The rand firmed nearly one percent on the dollar on Wednesday as risky assets gained from a cash injection from the European Central Bank, leading the local currency to shrug [&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-8453","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\/8453","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=8453"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8453\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}