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2013-02-20
Currencies Update


  • Yesterday, the South African rand strengthened against the US dollar, on easing concerns about labour unrest in South Africa’s mining sector. Miner, Anglo American Platinum, indicated that it expects operations at its South African mines to resume by today, after workers staged a one-day walkout following union violence at one of its mines. Meanwhile, markets await the US housing starts data for January scheduled for release later in the day.
  • The yield on benchmark government bonds fell yesterday. The yield on the 2015 bond declined to 5.32%, while that for the longer-dated 2026 issue dropped to 7.27%. 
  • At 06:00 SAST, the US dollar is trading 0.1% higher against the South African rand at R8.8647, while the euro is trading 0.3% higher at R11.8900.
  • The Japanese yen has strengthened against most of its major peers this morning. Data indicated that trade deficit in Japan widened in January.
  • Yesterday, the euro advanced against most of the major currencies, after data indicated that an index of German economic sentiment jumped to its highest level since April 2010 in February. However, gains were pared, following uncertainty surrounding the Italian general elections to be held this weekend.
  •  At 06:00 SAST, the euro advanced 0.2% against the US dollar to trade at $1.3413, while it has gained 0.1% against the British pound to trade at GBP0.8685.

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