Brazil's Currency Caught in a Panic
I love Brazil at this time of year. In Rio de Janeiro, the spring weather warms the beaches as summer approaches. If you're a beach person, it's a great place to spend the winter holidays when New York is cold and frozen.
While I do love the country, I can't say the same right now for the currency. Last week, the Brazilian real had its worst week against the dollar in three years. The weakening global growth has caused the Brazilian real to crash vs. the U.S. dollar, as emerging markets clearly have begun to price in a recession. If you were to look at the chart of the Dreyfus Brazilian Real Fund ETF (BZF), you might think that the largest economy in South America was about to go bust....468 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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