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Brazil & Southern Cone - June 2013 (ISSN 1741-4431)

ECONOMY: Mantega’s new currency war

Brazil’s Real slumped to R$2.22/US$ on 19 June, its weakest since 27 April 2009, while the local Bovespa market fell over 3.0% to 47,893 points after the US Federal Reserve signalled an imminent end to its quantitative easing policy beginning in late 2013 or early 2014. Based on current futures trading, some Brazilian analysts now say the Real could fall back to R$2.30/US$.

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