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Whose currency can weaken fastest? But at what cost?

Posted on 11 June 2013

In Brazil they just conducted a swap operation to try and support t the currency as the Brazilian real moved to 2.16 intra-day lows before the operation. If they are in trying to support the currency now after spending the last 18 months trying to weaken, this is a bit of cruel irony for Finance Minister Mantega, President Rousseff, and the Brazil Central Bank.
Inflation which was not out of control is gaining momentum after a 9% move in the currency in in two months. Now while S&P rating agency and other credit agencies are lowering their outlook for Brazil the government’s game plan is uncertain as the market ties their hands………………………………………..Full Article: Source


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VRS - who has written 36951 posts on Opalesque Commodities Briefing.


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