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UPDATE 1-South Africa's rand weakens nearly 3 pct as emerging market currencies slip

CNBC.com

currencies slip@ (Updates prices, add stock indexes) JOHANNESBURG, Aug 10 (Reuters) - South Africa's rand slipped nearly 3 percent on Friday, slumping to its weakest level in more than 8 months in line with emerging market assets as global trade tension sparked selling pressure. At 1352 GMT, the rand traded 2.7 percent weaker at 14.0700 per dollar, a level last seen on Nov. 27 last year. "The rand and other EM currencies on the back foot as sentiment sours," Rand Merchant Bank analysts said in a note, adding that this was due to "geopolitical concerns and the negative impact of the U.S.-China trade spat on global growth." Analysts said Turkey's lira and the Russian rouble were hit hardest in