{"id":14761,"date":"2012-09-19T04:37:37","date_gmt":"2012-09-19T02:37:37","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/rand-rallies-after-lonmin-workers-accept-offer\/"},"modified":"2012-09-19T04:37:37","modified_gmt":"2012-09-19T02:37:37","slug":"rand-rallies-after-lonmin-workers-accept-offer","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rand-rallies-after-lonmin-workers-accept-offer\/","title":{"rendered":"Rand rallies after Lonmin workers accept offer"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand rallies as Lonmin workers accept offer<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Strong demand for the short-end of the yield curve<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, Sept 18<\/span> (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nrebounded on Tuesday against the U.S. dollar  while<br \/>\nshorter-dated bond yields dipped after Lonmin workers said they<br \/>\nhave accepted a 22 percent pay rise to end a strike that shook<br \/>\nAfrica&#8217;s largest economy.<\/p>\n<p><span><\/span><\/p>\n<p>The six-week strike at Lonmin&#8217;s  Marikana<br \/>\nmine led to 45 deaths in the labour strife, spread to other<br \/>\noperations in the platinum belt that shut operations and raised<br \/>\nquestions among investors about ineffective political<br \/>\nleadership.<\/p>\n<p><span><\/span><\/p>\n<p>The rand firmed 1.17 percent at 8.166 against the<br \/>\ngreenback at 1553 GMT.<\/p>\n<p><span><\/span><\/p>\n<p>The currency was little moved from Monday&#8217;s New York close<br \/>\nof 8.27 until news broke from Marikana that Lonmin workers had<br \/>\naccepted the offer and would return to work on Thursday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The rand had weakened quite aggressively on news stories<br \/>\nabout the mine problem. Now that they have accepted the offer,<br \/>\nthat is positive,&#8221; Jim Bryson, a rand trader Rand Merchant Bank.<\/p>\n<p><span><\/span><\/p>\n<p>Bonds had also been hit in the past two days by negative<br \/>\nsentiment around labour strife in the crucial mining sector,<br \/>\ndriving yields to 2-month highs.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the three year bond fell 7.0 basis to<br \/>\n5.43 percent but the 14-year paper slid just half a<br \/>\nbasis point to 7.525 percent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There was a bit of demand following the market sort of<br \/>\ncheapening things up yesterday,&#8221; said a bond dealer in<br \/>\nJohannesburg.<\/p>\n<p><span><\/span><\/p>\n<p>Investors will pay close attention to August inflation<br \/>\nfigures on Wednesday ahead of the monetary policy setting<br \/>\nmeeting the following day. Nearly 30 economists polled by<br \/>\nReuters expect the repo rate to remain unchanged at 5.0 percent.<\/p>\n<p> (Reporting by Vuyani Ndaba; Editing by Jon Herskovitz, Ron<br \/>\nAskew)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand rallies as Lonmin workers accept offer * Strong demand for the short-end of the yield curve JOHANNESBURG, Sept 18 (Reuters) &#8211; South Africa&#8217;s rand rebounded on Tuesday against the U.S. dollar while shorter-dated bond yields dipped after Lonmin workers said they have accepted a 22 percent pay rise to end a strike that [&hellip;]<\/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-14761","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\/14761","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=14761"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14761\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}