* Rand holds steady between 23 – 27
* Bonds retreat, yields rise
JOHANNESBURG, Sept 14 (Reuters) – South Africa’s rand was
sightly firmer against the dollar on Friday, after tumbling for
most of the week due to deadly labour strife in the mining
sector that has raised concerns about the stability of the
crucial industry.
The euro extended gains against the dollar and yen after
data showing this month’s U.S. consumer confidence index rose to
its highest since May. [ID:ID:nL1E8KD9WB]
The rand was up 0.41 percent to 8.21 against the
dollar at 1543 GMT, after closing on Thursday in New York at
8.2440.
“It’s been a fairly quiet today given the mess of the last
two days,” said Warrick Butler, a currency trader at Standard
Bank.
The currency was boosted by another round of quantitative
easing announced by the U.S. Federal Reserve but could again
come under pressure if there is a spread of the labour strife,
which has already caused some of the world’s biggest platinum
firms to suspend South African operations.
The Fed said it would buy $40 billion of mortgage assets
every month until the U.S. jobs picture improved.
The rand stumbled briefly during the session when South
African police fired tear gas to disperse striking miners
outside an Aquarius Platinum mine near
Rustenberg, north-west of Johannesburg.
Continued…
