JOHANNESBURG (Reuters) - South Africa's rand was close to four-week highs against the dollar on Monday, as the currency continued to benefit from the accommodative policies of major central banks.
The rand was at 9.0880 to the dollar at 0612 GMT, slightly firmer than its close in New York on Friday.
The Bank of Japan's announcement last week that it would inject around $1.4 trillion into its economy to combat deflation boosted riskier assets, including the rand.
Weaker-than-expected U.S. non-farm payrolls data on Friday also suggest the Federal Reserve is unlikely to end its bond-buying programme soon.
"For the time being, the probability is high and growing that high yielding EM currencies will experience some sustained portfolio inflows, South Africa included," Tradition Analytics wrote in a note.
"The probability is high that the zero interest rate policies being implemented abroad will be forced on to EM type economies with those central banks likely to respond to the negative growth outlooks by reducing their own interest rates."
Government bond yields were lower, falling 2.5 basis points on the 2026 issue to 7.125 percent and 1 basis point on the 2015 paper to 5.34 percent.
Source: http://news.yahoo.com/africas-rand-near-month-high-bonds-firmer-070309731--finance.html
superbowl ads Super Bowl Ads 2013 Buffalo Wild Wings Superbowl Start Time Jim Harbaugh Who Won The Superbowl Super Bowl Halftime Show 2013
No comments:
Post a Comment