LONDON Feb 19 The South African rand fell to a
one-week low against the dollar on Tuesday after renewed
violence at a platinum mine which left 13 workers injured.
Emerging equities in general moved lower, driven by falling
The benchmark emerging equity index was down 0.16
percent, falling for its third consecutive day, as the Shanghai
Composite Index suffered its worst loss - 1.6 percent -
in more than a month.
South Africa's rand softened amid fears of renewed trouble
in the mining sector after Anglo American Platinum's
said workers at its Rustenburg operations were likely to stay
away following the previous day's violence.
At least 13 workers were wounded by rubber bullets or by
machetes in fighting at Anglo American Platinum's Siphumelele
mine following clashes between rival unions.
"The rand is vulnerable to labour tensions over the medium
term, which together with South Africa's large current account
deficit and constrained monetary and fiscal policy will keep the
rand on the back foot over the next six months," Absa Capital
said in a note.
Poland's zloty and Hungary's forint
were up about 0.2 percent and 0.3 percent respectively after the
ZEW poll of investor sentiment in Germany rose to its highest
since April 2010.
Investors were also awaiting Polish output data at 1300 GMT
which could add to the case for the central bank cutting rates
Turkish bond yields were flat and the lira eased slightly
before the outcome of a central bank rate decision and two debt
auctions scheduled for later in the day.
Economists expect the central bank to raise reserve
requirements to keep loan growth in check but are divided over
whether it will also cut interest rates. The decision is due to
be announced at 1200 GMT.