Moves to weaken rand may backfire.

Byline: Mariam Isa

Moves to weaken rand may backfire Analysts say even if an ideal level is agreed, global trends are hard to fight, writes ATTEMPTS to weaken the rand may backfire, given the clout of global markets and the potential cost to the economy, analysts say.

Most agree that the volatile unit which looks set to surpass a 14-month peak scaled last month is too strong for local exporters.

But revived global risk appetite may help the rand build on its hefty gains of nearly 30% against the dollar and more than 13% versus the euro so far this year.

It was trading at R7,35/$ and R11/ late yesterday, as emerging market shares rallied for the …