{"id":15258,"date":"2012-10-05T05:32:02","date_gmt":"2012-10-05T03:32:02","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/s-africas-rand-dips-to-11-week-low-on-labour-unrest\/"},"modified":"2012-10-05T05:32:02","modified_gmt":"2012-10-05T03:32:02","slug":"s-africas-rand-dips-to-11-week-low-on-labour-unrest","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-dips-to-11-week-low-on-labour-unrest\/","title":{"rendered":"S.Africa’s rand dips to 11-week low on labour unrest"},"content":{"rendered":"

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

* Rand nears three-year low vs dollar<\/span><\/p>\n

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

* Bonds retreat, yields edge up<\/p>\n

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

JOHANNESBURG<\/span> Oct 4 (Reuters) – South Africa’s rand extended
\nlosses against the dollar on Thursday, hitting an 11-week low as
\nwaves of strikes across the mining industry continued to dent
\nsentiment toward local assets.<\/p>\n

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

By 1528 GMT, the rand was trading at 8.5025 versus
\nthe greenback, down 0.97 percent from the New York close of
\n8.4210. It hit an 11-week low of 8.5490 earlier in the session.<\/p>\n

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

“Given the current environment locally with regards to all
\nthe strikes and violence, it seems like there is an expectation
\nof further weakening on the rand,” said Warrick Butler, a
\ncurrency trader at Standard Bank.<\/p>\n

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

“The move up to 8.55 has been a combination of stop-losses
\nbeing triggered in the market as well as offshore demand for the
\ndollar.”<\/p>\n

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

The local currency shrugged off gains made by the euro
\nagainst the dollar after the European Central Bank kept its
\nbenchmark interest rate at a record low of 0.75 percent at a
\npolicy meeting.<\/p>\n

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

The rand often tracks the euro, the currency of its largest
\ntrading partner.<\/p>\n

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

Fallout from the unrest in the mines, which account for 6
\npercent of GDP, has put pressure on the rand, which has fallen
\nto near three-year lows against the dollar.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Rand nears three-year low vs dollar * Bonds retreat, yields edge up JOHANNESBURG Oct 4 (Reuters) – South Africa’s rand extended losses against the dollar on Thursday, hitting an 11-week low as waves of strikes across the mining industry continued to dent sentiment toward local assets. By 1528 GMT, the rand was trading at […]<\/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-15258","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\/15258","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=15258"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15258\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}