{"id":9647,"date":"2012-04-05T03:50:54","date_gmt":"2012-04-05T01:50:54","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/s-african-rand-touches-7-week-lows-bonds-follow-suit\/"},"modified":"2012-04-05T03:50:54","modified_gmt":"2012-04-05T01:50:54","slug":"s-african-rand-touches-7-week-lows-bonds-follow-suit","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-touches-7-week-lows-bonds-follow-suit\/","title":{"rendered":"S.African rand touches 7-week lows, bonds follow suit"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Rand, bonds hit by risk aversion on global growth worries<\/span><\/p>\n

<\/span><\/p>\n

* Weak China prospects weigh on commodity currencies<\/p>\n

<\/span><\/p>\n

* Bonds sold-off as market sees increased supply<\/p>\n

<\/span><\/p>\n

JOHANNESBURG, April 4 (Reuters) – South Africa’s rand
\nweakened as much as 1.2 percent to a seven-week low against the
\ndollar on Wednesday and government bonds also fell, hit by
\nwaning risk appetite for emerging market assets as recent data
\npoints to stuttering global growth.<\/p>\n

<\/span><\/p>\n

The rand touched a session low of 7.84\/dollar, its
\nweakest level since Feb. 16 according to Reuters data, and was
\nat 7.8225 by 1655 GMT, down 1.0 percent from Tuesday’s close.<\/p>\n

<\/span><\/p>\n

Government bonds followed suit, with the yield on the
\nthree-year benchmark bond jumping 8.5 percent to close
\nat 6.81 percent. The yield on the 14-year bond added
\neight basis points to 8.51 percent.<\/p>\n

<\/span><\/p>\n

“There are slight concerns now filtering in that we aren’t
\nseeing momentum in global growth, and that’s really what’s
\ncaused this risk-off environment,” Standard Bank trader
\nWarrick Butler said.<\/p>\n

<\/span><\/p>\n

The latest minutes from the Federal Reserve suggesting there
\nmight not be any further monetary stimulus in the United States
\nadded to the pressure, while signs of stilted growth in China
\nwas also weighing on commodity currencies in particular.<\/p>\n

<\/span><\/p>\n

“Countries like South Africa and Australia are going to feel
\nthe brunt of it (weak China growth) and that’s why the Aussie is
\nunderperforming and the rand is under-performing as well,”
\nButler said.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand, bonds hit by risk aversion on global growth worries * Weak China prospects weigh on commodity currencies * Bonds sold-off as market sees increased supply JOHANNESBURG, April 4 (Reuters) – South Africa’s rand weakened as much as 1.2 percent to a seven-week low against the dollar on Wednesday and government bonds also fell, […]<\/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-9647","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\/9647","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=9647"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9647\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}