{"id":9827,"date":"2012-04-11T16:07:48","date_gmt":"2012-04-11T14:07:48","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/s-africas-rand-recoups-losses-selling-over-done\/"},"modified":"2012-04-11T16:07:48","modified_gmt":"2012-04-11T14:07:48","slug":"s-africas-rand-recoups-losses-selling-over-done","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-recoups-losses-selling-over-done\/","title":{"rendered":"S.Africa’s rand recoups losses, selling over-done"},"content":{"rendered":"

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

* Traders snap up the dips in the falling currency<\/span><\/p>\n

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

* Rand to remain under pressure on euro zone debt issues<\/p>\n

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

JOHANNESBURG, April 11<\/span> (Reuters) – South Africa’s rand
\nrecouped some of its losses against the dollar on Wednesday but
\ncould remain under pressure as a negative risk sentiment
\npersists on the back of global economic worries.<\/p>\n

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

The rand was up 0.14 percent against the U.S dollar
\nat 0614 GMT, trading at 7.992 against the dollar from Tuesday’s
\nNew York close of 7.9805.<\/p>\n

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

“The initial blow-out that we saw may have been slightly
\noverdone, the rand is finding good resistance at 8 per dollar,
\nwe can expect to see some form of resistance around those
\nlevels,” said Brigid Taylor, Nedbank head of Institutional
\nSales.<\/p>\n

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

“But still looking for 8.25 on the dollar\/rand, purely
\nbecause there are issues in Europe that need to be resolved
\naround the adequacy of mechanisms as well as the Spanish economy
\ncoming under pressure.”<\/p>\n

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

Risk sentiment has been hammered by a number of factors in
\nthe past few days, namely poor U.S. jobs growth, a jump in
\nSpanish bond yields on concerns about the fragility of
\nperipheral euro zone economies and disappointing China imports.<\/p>\n

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

Locally, manufacturing figures due to be released later in
\nthe day will shed some light on the economic growth momentum for
\nAfrica’s biggest economy. Economists surveyed by Reuters expect
\na modest pick-up of 2 percent in February compared to 2.4
\npercent in January.<\/p>\n

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

The repo rate in South Africa has been at kept at a
\nhistorical low of 5.5 percent since November 2010 after the
\nReserve Bank cut it by 650 basis to counter a 2009 recession.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Traders snap up the dips in the falling currency * Rand to remain under pressure on euro zone debt issues JOHANNESBURG, April 11 (Reuters) – South Africa’s rand recouped some of its losses against the dollar on Wednesday but could remain under pressure as a negative risk sentiment persists on the back of global […]<\/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-9827","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\/9827","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=9827"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9827\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}