{"id":15501,"date":"2012-10-12T05:46:55","date_gmt":"2012-10-12T03:46:55","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/s-africas-rand-firms-vs-dlr-strikes-still-a-worry\/"},"modified":"2012-10-12T05:46:55","modified_gmt":"2012-10-12T03:46:55","slug":"s-africas-rand-firms-vs-dlr-strikes-still-a-worry","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-firms-vs-dlr-strikes-still-a-worry\/","title":{"rendered":"S.Africa’s rand firms vs dlr, strikes still a worry"},"content":{"rendered":"

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

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

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

* Wage strike talks collapse<\/p>\n

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

JOHANNESBURG<\/span> Oct 11 (Reuters) – South Africa’s rand edged
\nup against the dollar on Thursday on tentative hopes of a
\nresolution to the strikes that have wreaked havoc particularly
\nin the key mining sector in the past two months.<\/p>\n

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

But no firm agreements have emerged from the wage talks yet,
\nwhich may keep the local currency vulnerable for another retreat
\ntowards the 9.00 level after a heavy sell-off took it to a 3-1\/2
\nlow of 8.995\/dollar on Monday.<\/p>\n

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

By 1601 GMT the local unit was trading at 8.7070
\nto the dollar, 0.36 percent tighter than its 8.7385 close in New
\nYork.<\/p>\n

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

It was also buoyed by a stronger euro, currency of South
\nAfrica’s largest trading bloc partner, which extended gains
\nagainst the dollar on encouraging comments from the head of the
\nInternational Monetary Fund.<\/p>\n

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

With investors worried about the impact on the economy of
\nstrikes which have seen almost 100,000 workers downing tools –
\noften illegally – since August, market watchers did not see a
\nsustained rally for the rand.<\/p>\n

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

“The rand is still trading in murky waters at the current
\nlevels,” said Paul Chakaduka, a dealer at Global Trader.<\/p>\n

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

“If it continues to trade above 8.70 we could break through
\nthe 9 rand level.”<\/p>\n

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

Central Bank governor Gill Marcus said this week the
\ndomestic economic outlook was “deteriorating rapidly”, with the
\nlabour unrest likely to lead to job losses.<\/p>\n

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

Government bonds were weaker on Thursday, and the yield on
\nthe benchmark 2015 bond added 3 basis points to 5.42
\npercent while that for the 2026 issue gained 7 basis
\npoints to 7.76 percent.<\/p>\n

(Reporting By Tshepo Tshabalala)<\/p>\n

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

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Bonds retreat, yields edge up * Wage strike talks collapse JOHANNESBURG Oct 11 (Reuters) – South Africa’s rand edged up against the dollar on Thursday on tentative hopes of a resolution to the strikes that have wreaked havoc particularly in the key mining sector in the past two months. But no firm agreements have […]<\/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-15501","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\/15501","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=15501"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15501\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}