The rand suffered a major setback this week in the bruising encounter between Finance Minister Pravin Gordhan and crime-busting unit the Hawks. The currency stumbled by up to 5% against the dollar, from R13.46/$ to R14.32/$ during the week, marking a sharp reversal of the strengthening trend that has been in place since at least June."The actions of the Hawks have once again created uncertainties and instability in South African financial markets and appear more menacing than several previous bouts of intimidation designed to unsettle the finance minister and the people who work closely with him in the National Treasury," NKC research analysts said in a note.story_article_left1The weaker rand played out badly for banking stocks in particular on the JSE but lifted companies that derive the bulk of their earnings overseas.A weaker currency stokes inflation, which might force the Reserve Bank to raise interest rates at a time when the local economy is punching below its weight.The upshot of the rate-hike scenario is that consumers will have difficulty paying off their debts, which is negative for banks and other credit providers.Barclays Africa, Standard Bank and FirstRand topped the losers' board on the JSE's Top 40 index.But the broader All Share managed to settle 1.39% higher at 53,506.60 points on the week, thanks to the weaker rand boosting rand-hedge stocks.UK-focused Intu Properties and Capital & Counties Properties in particular benefited as the rand fell 6% against the British pound.The two blue-chip property stocks had encountered a sell-off in the aftermath of the Brexit vote in June due to a weaker pound.Further afield, the dollar perked up on Friday after US Federal Reserve chairwoman Janet Yellen said the case had strengthened for the central bank to hike rates, but she did not indicate any timeline.Higher US rates make the dollar more attractive as they boost returns on assets denominated in that currency.The stronger dollar pushed the rand to R14.19/$ late on Friday...