Johannesburg - The rand extended losses against the dollar on Tuesday, weighed down by worsening labour strife that threatens to hurt growth.
The rand was at 10.3535 to the dollar at 06:25 GMT, 0.2% weaker than its close in New York on Monday.
Gross domestic product (GDP) growth figures for the second quarter of 2013 will be released at 09:30 GMT and could put further pressure on the rand if they disappoint. Economists polled by Reuters forecast GDP growth of 3.3%, up from 0.9% in the first quarter.
"A stronger GDP print should not be taken as a signal of strengthening growth momentum, but rather as a statistical bounce," Absa Capital said in a research note.
Construction and airport workers went on strike for higher wages on Monday, joining those in the car manufacturing sector who downed tools last week. .
There is also a threat of strikes in the gold mining sector, which could cost over $35m a day in lost output, after wage talks between the National Union of Mineworkers and gold mining companies were deadlocked.
Government bond yields edged higher, gaining 7.5 basis points on the 2026 paper to 8.615% and 8.5 basis points on the 2015 issue to 6.465%.
The Treasury will auction R2.35bn in 2031, 2037 and 2048 government bonds at 09:00 GMT.
The rand was at 10.3535 to the dollar at 06:25 GMT, 0.2% weaker than its close in New York on Monday.
Gross domestic product (GDP) growth figures for the second quarter of 2013 will be released at 09:30 GMT and could put further pressure on the rand if they disappoint. Economists polled by Reuters forecast GDP growth of 3.3%, up from 0.9% in the first quarter.
"A stronger GDP print should not be taken as a signal of strengthening growth momentum, but rather as a statistical bounce," Absa Capital said in a research note.
Construction and airport workers went on strike for higher wages on Monday, joining those in the car manufacturing sector who downed tools last week. .
There is also a threat of strikes in the gold mining sector, which could cost over $35m a day in lost output, after wage talks between the National Union of Mineworkers and gold mining companies were deadlocked.
Government bond yields edged higher, gaining 7.5 basis points on the 2026 paper to 8.615% and 8.5 basis points on the 2015 issue to 6.465%.
The Treasury will auction R2.35bn in 2031, 2037 and 2048 government bonds at 09:00 GMT.