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JOHANNESBURG Oct 5 (Reuters) – South Africa’s rand extended
losses against the dollar to 2 percent and government bonds fell
sharply after Anglo American Platinum said it had
dismissed around 12,000 striking workers, escalating a labour
crisis that has dented investor confidence.
The rand hit a session trough of 8.6950 to the
dollar, edging closer to a 3-1/2 year low, while the yield on
the three year bond rose as much as 13 basis points to
5.45 percent.
The yield for the longer dated 2026 bond jumped
17.5 basis points to a session high of 7.7 percent.
(Reporting by Stella Mapenzauswa; Editing by Ed Stoddard)
© Thomson Reuters 2012 All rights reserved
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