Friday, June 22, 2007

Brazilian Real Posts Its Biggest Decline Since February Amid Risk Aversion

(Bloomberg) -- Brazil's currency fell the most since
February on concern losses U.S. hedge funds losses may prompt
investors to avoid riskier emerging-market securities.

``It's definitely a factor that's causing stress in emerging
markets and is leading to a correction here in Brazil,'' said
Reginaldo Galhardo, manager of the foreign-exchange trading desk
at Gradual Corretora in Sao Paulo.


Read more at Bloomberg Currencies News

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