The Brazilian real: Can it be reined in?
We noted at the start of last week the level of frustration the Brazilian authorities must surely feel about the lack of impact their efforts to contain the strength of the Brazilian real have had so far. Despite the imposition of a 2% financial transactions tax on foreign investment flows into the local stock and fixed income markets, warnings of a broad overhaul of the country's currency laws and talk of a variety of other measures that could be brought in, USD/BRL remains at pretty well the
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