The real (BZF) was the worst performing emerging market currency last month, losing 4.3% vs. the...


The real (BZF) was the worst performing emerging market currency last month, losing 4.3% vs. the dollar to about its weakest level in 3 years. Some expect the central bank to continue its aggressive ease and cut the Selic below 8.75% this month (8.75% in Brazil is like 2% in the U.S. - unimaginable, until recently). The weakened real isn't yet doing holders of EWZ any favors.
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