{"id":8713,"date":"2012-03-09T02:59:23","date_gmt":"2012-03-09T00:59:23","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-africas-rand-gains-vs-dollar-hits-7-50-resistance\/"},"modified":"2012-03-09T02:59:23","modified_gmt":"2012-03-09T00:59:23","slug":"s-africas-rand-gains-vs-dollar-hits-7-50-resistance","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-gains-vs-dollar-hits-7-50-resistance\/","title":{"rendered":"S.Africa&#8217;s rand gains vs dollar, hits 7.50 resistance"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand firms 1.2 percent on dollar, likely to breach<br \/>\nresistance<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds extend gains from oversold levels last week<\/p>\n<p><span><\/span><\/p>\n<p>* Growth in January manufacturing 2.4 pct<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, March 8 (Reuters) &#8211; South Africa&#8217;s rand<br \/>\ngained for the second day against the dollar on Thursday as<br \/>\nconfidence returned to investors to take on risky assets with<br \/>\nGreece closer to sidestepping a messy default.<\/p>\n<p><span><\/span><\/p>\n<p>The rand firmed to the 7.50 resistance level, which it<br \/>\nbounced from in early February and could prove sticky for rand<br \/>\nbulls.<\/p>\n<p><span><\/span><\/p>\n<p>Progress in the euro zone boosted risky assets as Greece<br \/>\ngets closer to securing a deal with its private creditors that<br \/>\nwill allow it to redeem debt due this month.<\/p>\n<p><span><\/span><\/p>\n<p>If emerging markets continue to be in favour, the local unit<br \/>\nmay break through 7.50 to 7.45 and then the 2012 high of 7.4020.<\/p>\n<p><span><\/span><\/p>\n<p>The Reuters Econometer, an index that gauges the outlook for<br \/>\nSouth Africa&#8217;s economy, was higher in February compared to<br \/>\nJanuary. The survey consensus is for the rand to end the year at<br \/>\n7.59, compared to previous estimates of 7.78.<\/p>\n<p><span><\/span><\/p>\n<p>By 1600 GMT the rand was up 1.07 percent on the<br \/>\ndollar at 7.5155, compared to a 7.5960 close in New York on<br \/>\nWednesday.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand firms 1.2 percent on dollar, likely to breach resistance * Bonds extend gains from oversold levels last week * Growth in January manufacturing 2.4 pct JOHANNESBURG, March 8 (Reuters) &#8211; South Africa&#8217;s rand gained for the second day against the dollar on Thursday as confidence returned to investors to take on risky assets [&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-8713","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\/8713","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=8713"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8713\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}