| Brazil's real whipsawed in afternoon trading on Friday, as further negative developments in the euro-zone debt crisis and low trading volumes kept volatility high. Pressure has continued to build on the euro zone as talks by the heads of Germany, France and Italy on Thursday failed to find a solution as Germany opposed a joint euro-zone bond and a bigger role for the European Central Bank to stem the crisis.
Adding to that pressure, Italy paid a record 6.5 percent to borrow over six months on Friday and its longer-term borrowing costs soared far above levels seen as sustainable for public finances.............................................Full Article: Source |