Johannesburg - The rand weakened slightly against the dollar on Tuesday, with scope to extend losses as the country's largest labour union enters the third week of a wage strike that has hit the operations of major auto makers.
At 09:35 the rand was trading at R10.7197/$.
In fixed income, the yield for the 2026 benchmark added 1 basis point to 8.335% while the 2015 paper at the short end of the curve was flat at 6.67%.
Leaders of the National Union of Metalworkers of South Africa are expected to draw up plans on widening a strike that has dealt another blow to an economy still counting the cost of a five-month platinum sector stoppage at the start of the year.
"While strikes are very familiar to investors, they nonetheless have a dampening effect on confidence," Rand Merchant Bank analyst Mamello Matikinca said in a note.
"South Africa will struggle with narrowing its current account deficit as import growth remains strong."
At 09:35 the rand was trading at R10.7197/$.
In fixed income, the yield for the 2026 benchmark added 1 basis point to 8.335% while the 2015 paper at the short end of the curve was flat at 6.67%.
Leaders of the National Union of Metalworkers of South Africa are expected to draw up plans on widening a strike that has dealt another blow to an economy still counting the cost of a five-month platinum sector stoppage at the start of the year.
"While strikes are very familiar to investors, they nonetheless have a dampening effect on confidence," Rand Merchant Bank analyst Mamello Matikinca said in a note.
"South Africa will struggle with narrowing its current account deficit as import growth remains strong."