JOHANNESBURG, Dec 1 Reuters South Africa39;s rand strengthened against the dollar on Friday, reversing its losses from the previous day, as U.S. Federal Reserve Chair Jerome Powell said the Fed would move carefully on interest rates.

At 1619 GMT, the rand traded at 18.6150 against the dollar , about 1.2 stronger than its previous close.

The dollar was last trading flat against a basket of global currencies, after falling in the wake of Powell39;s comments.

Powell reaffirmed the U.S. central bank39;s intent to be cautious in its upcoming monetary policy decisions, but also said it was too early to declare the Fed39;s inflation fight finished.

South Africa handed stateowned rail and ports firm Transnet a 47 billion rand 2.5 billion lifeline on Friday, which it said would help Transnet meet its immediate debt obligations.

Transnet39;s single 1 billion international bond, which matures in 2028, rose on the news, with its price up as much as 1.8 cents to 98.9 cents, its highest price since Aug. 1 according to Tradeweb data .

The logistics utility39;s underperformance has impacted commodity exports and other sectors such as manufacturing and retail, weakening Africa39;s most advanced economy.

On the stock market, both the Top40 index and the broader allshare index ended the day about 0.2 higher.

South Africa39;s benchmark 2030 government bond was unchanged, with the yield at 9.980.

Reporting by Bhargav Acharya and Nellie Peyton Editing by Christina Fincher and Frances…