Rand falls more than 1%, S&P weighs-continued

March 28, 2012--South Africa’s rand fell more than 1.3% against the dollar on Wednesday and was the worst performer in a basket of 20 emerging market currencies, partly hit by S&P downgrading the country’s outlook to negative from stable.
Government bonds extended the previous day’s losses, pushing yields to week-long highs as investors adjust their long positions particularly at the longer end of the curve after a poorly subscribed weekly auction on Wednesday.

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Source: FIN24

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