{"id":15384,"date":"2012-10-08T17:38:51","date_gmt":"2012-10-08T15:38:51","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/update-1-rand-hits-3-12-year-low-as-s-africa-strikes-weigh\/"},"modified":"2012-10-08T17:38:51","modified_gmt":"2012-10-08T15:38:51","slug":"update-1-rand-hits-3-12-year-low-as-s-africa-strikes-weigh","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-rand-hits-3-12-year-low-as-s-africa-strikes-weigh\/","title":{"rendered":"UPDATE 1-Rand hits 3-1\/2 year low as S.Africa strikes weigh"},"content":{"rendered":"

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

(Updates levels, adds quotes, background)<\/span><\/p>\n

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

By Stella Mapenzauswa<\/p>\n

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

JOHANNESBURG<\/span> Oct 8 (Reuters) – South Africa’s rand fell
\nmore than 2.3 percent against the dollar to a 3-1\/2 year low in
\nvolatile trade on Monday as strikes that have hit output in the
\nmining sector continued to hurt investor sentiment.<\/p>\n

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

Government bonds tracked the currency, with traders saying
\nthe moves were exaggerated by thin liquidity on a market holiday
\nin the United States.<\/p>\n

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

Investors have been nervous about the outlook for Africa’s
\nbiggest economy, keeping local assets under pressure as strikes
\nthat began in the platinum mines in August spread to gold and
\niron ore. A truckers’ strike is also in its third week.<\/p>\n

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

Friday’s firing of 12,000 wildcat strikers by the world’s
\nbiggest platinum producer, Anglo American Platinum,
\nwreaked havoc, pushing the rand down 3.2 percent in its biggest
\ndaily loss since early December.<\/p>\n

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

A renewed attack pushed the currency to 8.9950 on Monday,
\nits weakest since April 2009, according to Reuters data, before
\nit recovered slightly to 8.9605 by 1038 GMT – still down 1.9
\npercent from Friday’s close.<\/p>\n

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

“It’s all the local news about strikes. All the negativity
\nfrom last week is ongoing,” said Standard Bank trader Jan
\nDefouw. Trading volumes were thin, adding to the volatility.<\/p>\n

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

The yield on the three-year benchmark rose as much
\nas 15 basis points at 5.57 percent, the highest it has been in
\nthree weeks, while that for the 2026 soared 28 basis
\npoints to 7.945 percent.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

(Updates levels, adds quotes, background) By Stella Mapenzauswa JOHANNESBURG Oct 8 (Reuters) – South Africa’s rand fell more than 2.3 percent against the dollar to a 3-1\/2 year low in volatile trade on Monday as strikes that have hit output in the mining sector continued to hurt investor sentiment. Government bonds tracked the currency, with […]<\/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-15384","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\/15384","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=15384"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15384\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}