{"id":9351,"date":"2012-03-27T03:32:37","date_gmt":"2012-03-27T01:32:37","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-africas-rand-and-bonds-firmer-bernanke-hints-qe3\/"},"modified":"2012-03-27T03:32:37","modified_gmt":"2012-03-27T01:32:37","slug":"s-africas-rand-and-bonds-firmer-bernanke-hints-qe3","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-and-bonds-firmer-bernanke-hints-qe3\/","title":{"rendered":"S.Africa&#8217;s rand and bonds firmer, Bernanke hints QE3"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand outperforms other EM currencies<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds firmer in light of lower rates for longer<\/p>\n<p><span><\/span><\/p>\n<p>By Vuyani Ndaba<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, March 26 (Reuters) &#8211; South Africa&#8217;s rand and<br \/>\nbonds firmed on Monday against the dollar on the back of Federal<br \/>\nReserve Chairman Ben Bernanke&#8217;s dovish comments, triggering a<br \/>\nlarge sell-off from the greenback against most emerging market<br \/>\ncurrencies.<\/p>\n<p><span><\/span><\/p>\n<p>Bernanke&#8217;s warning that the U.S. economy needed to grow<br \/>\nfaster to get the unemployment rate down boosted hopes early in<br \/>\nthe session that the bank could yet conduct another round of<br \/>\nquantitative easing.<\/p>\n<p><span><\/span><\/p>\n<p>The rand performed the best out of a group of 20<br \/>\nemerging markets currencies compiled by Reuters. At 1553 GMT<br \/>\nit was 1.02 percent firmer than the U.S dollar, trading at 7.6.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We have basically seen offshore selling throughout the day,<br \/>\nwe have seen the dollar weak against the euro and commodity<br \/>\ncurrencies,&#8221; said a Johannesburg trader.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Dovish comments from Bernanke led to more selling of the<br \/>\ndollar across the board and that&#8217;s been supportive of the rand,&#8221;<br \/>\nhe added.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds also firmed, with the yield on the 2015<br \/>\nbond dropping eight basis points to 6.750 percent and<br \/>\nthat on the longer dated 2026 note falling 8.5 basis<br \/>\npoints to 8.375 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 outperforms other EM currencies * Bonds firmer in light of lower rates for longer By Vuyani Ndaba JOHANNESBURG, March 26 (Reuters) &#8211; South Africa&#8217;s rand and bonds firmed on Monday against the dollar on the back of Federal Reserve Chairman Ben Bernanke&#8217;s dovish comments, triggering a large sell-off from the greenback against most [&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-9351","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\/9351","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=9351"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}