{"id":8921,"date":"2012-03-15T03:10:29","date_gmt":"2012-03-15T01:10:29","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-africas-rand-plunges-2-pct-vs-dlr-breaches-support-levels\/"},"modified":"2012-03-15T03:10:29","modified_gmt":"2012-03-15T01:10:29","slug":"s-africas-rand-plunges-2-pct-vs-dlr-breaches-support-levels","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-plunges-2-pct-vs-dlr-breaches-support-levels\/","title":{"rendered":"S.Africa&#8217;s rand plunges 2 pct vs dlr, breaches support levels"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand breaches key support against stronger dollar<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bond yields shoot up 18 basis points<\/p>\n<p><span><\/span><\/p>\n<p>* Retail sales slow sharply in January<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, March 14 (Reuters) &#8211; The rand tumbled<br \/>\nover two percent against the dollar after surprisingly weak<br \/>\nretail sales data while a strong dollar on Wednesday jolted the<br \/>\ncurrency out of its recent lethargy.<\/p>\n<p><span><\/span><\/p>\n<p>Bond yields shot up to two-month highs, tracking U.S.<br \/>\nTreasuries which were weighed by the Federal Reserve&#8217;s<br \/>\nacknowledgement of some improvement in the world&#8217;s biggest<br \/>\neconomy. That prompted traders to move into sell-off mode at<br \/>\nWednesday&#8217;s local opening.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;U.S. Treasuries have spiked, bond yields in many emerging<br \/>\nmarkets have spiked as well,&#8221; said George Glynos, managing<br \/>\ndirector an financial consultancy ETM said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;You also had a resurgent dollar which placed the gold price<br \/>\nunder a bit of pressure. All of that combined proved a little<br \/>\nbit too much and tipped scales back in favour of a weaker rand.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The rand fell to a three-week low of 7.6851 to the<br \/>\ndollar, breaching key support first at 7.64 and then last week&#8217;s<br \/>\n7.68 support. The local unit closed at 7.5290 in New York on<br \/>\nTuesday.<\/p>\n<p><span><\/span><\/p>\n<p>January retail sales numbers showed growth had slowed to 3.9<br \/>\npercent on an annual basis, surprising economists who had<br \/>\nexpected 7.1 percent growth and sending the rand weaker as the<br \/>\ndata suggested economic growth in the first quarter may be<br \/>\npoor.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand breaches key support against stronger dollar * Bond yields shoot up 18 basis points * Retail sales slow sharply in January JOHANNESBURG, March 14 (Reuters) &#8211; The rand tumbled over two percent against the dollar after surprisingly weak retail sales data while a strong dollar on Wednesday jolted the currency out of its [&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-8921","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\/8921","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=8921"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8921\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}