All
 

 

Just in:  

You are here: Home»Markets»FXMM»Middle East & Africa»South Africa's rand softens, bonds rise

rand--JOHANNESBURG: South Africa's rand softened marginally against the dollar in early trade on Thursday but is expected to remain in a tight range as local traders await the resolution of talks to resolve the so-called "fiscal cliff" in the United States.

 

The rand, which has failed to break out of an 8.80-9.00 range during the last week, was trading at 8.8210 to the greenback at 0646 GMT.

 

The euro firmed as the United States Congress pushed toward compromise on a deal to resolve the fiscal cliff, but agreement still appeared elusive, keeping emerging market investors on edge.

 

"The currency market at the moment is relatively lacklustre, said Brigid Taylor, head of institutional sales at Nedbank. "The US is now in the spotlight and we could potentially see deterioration."

 

Government bonds recovered from yesterday's losses with yields falling 2.5 basis points on the benchmark 2026 paper and 4 basis points to 5.47 percent on the 2015 note.

 

Bonds weakened and yields edged higher during the previous session when Reserve Bank Governor Gill Marcus, addressing a conference of South Africa's metal-workers union, reiterated a hawkish tone on inflation, denting hopes for interest rate cuts.

Copyright Reuters, 2012


 



 
Index Closing Chg%
Arrow DJIA 17,195.42 1.30
Arrow Nasdaq 4,566.14 0.37
Arrow S&P 1,994.65 0.62
Arrow FTSE 6,463.55 0.15
Arrow DAX 9,114.84 0.35
Arrow CAC-40 4,141.24 0.74
Arrow Nikkei 15,658.00 1.67
Arrow H.Seng 23,702.04 1.49
Arrow Sensex 27,346.33 0.92





where to buy

cheap wedding dresses

online - weddingdresstrend.com


Banking Review 2013


Buy new style hair wigs at cheap price on Ishowigs.com

Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln