Get higher interest without carry trade?

Is it possible to sell, for example, USD for South African Rand, collect the higher interest rate for say 2 years, and then buy the USD back at the same price it as it was sold for? If the Rand has appreciated after two years, you give up on the upside. If it is lower than the USD, you are saved from the loss.

What are the problems if any with this trade?

you can hedge against the appreciation in USD with options or futures but the cost of hedging will negate the profit made on interest... appart from that, my feeble mind cannot conceive another way to eliminate directional risk in your position. What you propose is a riskless way to make more then the risk free rate, aka arbitrage, so if that opportunity ever existed I would be very surprised if it hasn't been beaten to death yet.

Hi, I just wanted to give the heads-up on my S.O.S system. Over the next several weeks I want to show as many traders as I can a live view of how I trade the Forex open on Sundays! I call my system S.O.S because it means Sunday Open Session. It means that every Sunday the FX market opens and there is a high probability of a particular trade that I use and it is very lucrative and if done right it can get your week started off on a good Profitable note!

However, I do need to know if there is anyone who is interested and I mean more than 1 or 2 or 3 other traders this is the type of trade that can be done by an individual trader on their own,at the same time it can be even more profitably done as a team.