JOHANNESBURG: South Africa's rand firmed against the dollar on Wednesday buoyed by the possibility that some striking workers could return to work after weeks of labour unrest that has threatened to cripple Africa's biggest economy.
The rand was 0.21 percent firmer at 8.7226 against the dollar at 0628 GMT, from the close of 8.7385 in New York on Tuesday.
Some of South Africa's striking truckers have agreed to return to work on Wednesday, after two weeks of strikes in the transport sector have hit supplies of fuel, cash and consumer goods.
"The ZAR did extend its recovery yesterday on the improved prospects for the trucking strike but has since stalled with the outcome as yet unknown," said Tradition Analytics in a note to clients.
Bonds also took reprieve from the news, the yield on the three year bond fell 3.5 basis points to 5.44 percent and that on the longer-dated bond declined three basis points to 7.75 percent.
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