{"id":9382,"date":"2012-03-28T03:36:00","date_gmt":"2012-03-28T01:36:00","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/s-africas-rand-reverses-gains-bonds-weaken-ahead-of-mpc\/"},"modified":"2012-03-28T03:36:00","modified_gmt":"2012-03-28T01:36:00","slug":"s-africas-rand-reverses-gains-bonds-weaken-ahead-of-mpc","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-reverses-gains-bonds-weaken-ahead-of-mpc\/","title":{"rendered":"S.Africa&#8217;s rand reverses gains, bonds weaken ahead of MPC"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Carry trades should support rand<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds weaker, market cautious ahead of rates call<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, March 27<\/span> (Reuters) &#8211; South Africa&#8217;s government<br \/>\nbonds weakened for the first time in three days and the rand<br \/>\nreversed earlier gains against the dollar on Tuesday, although<br \/>\nthe currency&#8217;s carry trade appeal could boost it in the short<br \/>\nterm.<\/p>\n<p><span><\/span><\/p>\n<p>The rand earlier rallied to 7.5484 to the<br \/>\ngreenback, its firmest level since March 20, but retreated to<br \/>\n7.5980 by 1541 GMT, weakening 0.21 percent from Monday&#8217;s close<br \/>\nat 7.5820.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The rand has been somewhat range bound today, trading<br \/>\nbetween the low 7.54&#8217;s and the current levels,&#8221; said William Van<br \/>\nRijn, a forex trader at Nedbank, calling Tuesday&#8217;s session<br \/>\nrather lacklustre.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Locally the focus will be on the outcome of the monetary<br \/>\npolicy committee on Thursday , and perhaps more specifically on<br \/>\nthe comments from the Governor.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>All 24 economists polled by Reuters last week expected the<br \/>\nReserve Bank&#8217;s MPC to keep the key repo rate unchanged at 5.5<br \/>\npercent &#8211; its stance over the last 16 months &#8211; but the market<br \/>\nwill be looking for a signal from Governor Gill Marcus&#8217;s speech<br \/>\nof when monetary tightening could resume.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds fell earlier this month after comments from<br \/>\n Marcus suggested a tougher stance on inflation and some market<br \/>\nplayers are seeing higher interest rates by year-end, despite<br \/>\ndata showing CPI slowed unexpectedly in February.<\/p>\n<p><span><\/span><\/p>\n<p>Bonds were sold on Tuesday, pushing prices lower and nudging<br \/>\nthe yield on the benchmark three-year bond four basis<br \/>\npoints higher to 6.79 percent. The yield for the 14-year paper<br \/>\n added 5.5 basis points to 8.43 percent.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Carry trades should support rand * Bonds weaker, market cautious ahead of rates call JOHANNESBURG, March 27 (Reuters) &#8211; South Africa&#8217;s government bonds weakened for the first time in three days and the rand reversed earlier gains against the dollar on Tuesday, although the currency&#8217;s carry trade appeal could boost it in the short [&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-9382","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\/9382","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=9382"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}