{"id":13622,"date":"2012-08-18T02:55:45","date_gmt":"2012-08-18T00:55:45","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/lonmin-strike-euro-drive-s-africa-rand-to-2-wk-trough\/"},"modified":"2012-08-18T02:55:45","modified_gmt":"2012-08-18T00:55:45","slug":"lonmin-strike-euro-drive-s-africa-rand-to-2-wk-trough","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/lonmin-strike-euro-drive-s-africa-rand-to-2-wk-trough\/","title":{"rendered":"Lonmin strike, euro drive S.Africa rand to 2-wk trough"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Rand extends losses with afternoon dollar demand<\/span><\/p>\n

<\/span><\/p>\n

* Longer end of bond yield curve rises further<\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> Aug 17 (Reuters) – South Africa’s rand hit a
\ntwo-week low on Friday, extending earlier falls linked to the
\nkilling by police of 34 protestors at a Lonmin
\nmine as offshore investors increased bets on dollar gains after
\npositive U.S. data in the afternoon.<\/p>\n

<\/span><\/p>\n

The rand was down just over 1 percent to 8.3150 to
\nthe dollar at 1620 GMT.<\/p>\n

<\/span><\/p>\n

The local unit was sold most of the session as investors
\ngave South Africa a wide berth after the killings at the
\nplatinum mine rekindled memories of a racist past and hit
\nsentiment towards Africa’s largest economy.<\/p>\n

<\/span><\/p>\n

In late afternoon trade the rand extended the losses to a
\ntwo week low of 8.3533 as the euro dipped below $1.23 on
\nimproving U.S. consumer sentiment.<\/p>\n

<\/span><\/p>\n

“The combination of the euro remaining under pressure, the
\nnegativity surrounding commodity currencies across the board and
\nthe concerns regarding the ongoing strike action and clashes
\nwith police precipitated a bout of rand selling,” said William
\nVan Rijn from Nedbank.<\/p>\n

<\/span><\/p>\n

Further weakness is likely to drive the rand to test 8.50
\nsupport next week, some analysts said.<\/p>\n

<\/span><\/p>\n

Government bonds were slightly weaker in thin trade for most
\nof Friday’s session.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand extends losses with afternoon dollar demand * Longer end of bond yield curve rises further JOHANNESBURG Aug 17 (Reuters) – South Africa’s rand hit a two-week low on Friday, extending earlier falls linked to the killing by police of 34 protestors at a Lonmin mine as offshore investors increased bets on dollar gains […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-13622","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=13622"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13622\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}