• SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

  • Platinum handshake

    Officials who try to do what's right risk far more than blessed wrongdoers, says Solly Moeng.

All data is delayed
Loading...
See More

Rand steadies on eurozone concerns

May 25 2012 09:10
Reuters

Johannesburg - The rand steadied on Friday against the dollar but remained under pressure from a weaker euro and the debt crisis sweeping its major European trading partners.

The rand was slightly firmer at R8.3455 at 06:46 GMT from New York’s Thursday close of R8.3625 per dollar.

“It seems as if markets took a breather in a day that saw little new information on the unfolding drama in the eurozone,” Rand Merchant Bank wrote in a client note.

“We expect uncertainty to remain high until there’s clarity over the future of the eurozone.”

Government bonds opened flat, with the benchmark yield at 6.35% for the three-year bond and the 14-year paper slipping half a basis point to R8.32.

Bonds gained on Thursday after the Reserve Bank left rates unchanged. Analysts suggested the bank’s statement sounded dovish with it forecasting a lower inflation number.

Treasury is due to auction R500m of the 2018, R800m of the 2031 and R800m of the 2036 nominal inflation-linked bonds at 09:00 GMT.

On the bourse, the JSE’s blue-chip Top 40 - (Tradeable) [JSE:J200] June futures contract was up 0.06% before the 07:00 GMT start of trade, pointing to a positive start.

 
bonds  |  rand  |  europe debt crisis  |  markets

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb's decision to keep the repo rate unchanged is:

Previous results · Suggest a vote

Loading...