Brazil: World in a currency war - BNN Video
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Opinion of Trader has comments about CAD breaking parity towards end
Brazil: World in a currency war
on BNN
Reuters3:49 PM, E.T. September 27, 2010
The world is in an "international currency war" as governments manipulate their currencies to improve their export competitiveness, Brazilian Finance Minister Guido Mantega said Monday.
Mantega's speech to Brazilian industrial leaders included some of the strongest comments to date by any senior government official on the recent bout of currency intervention by countries, including Japan and China.
Brazil's currency, the real, is now the world's most overvalued major currency, according to Goldman Sachs. Near a 10-month high against the dollar, the real continued to rise after Mantega's comment as traders bet the government may be waiting for the outcome of Sunday's presidential election before taking action.
Opinion of Trader has comments about CAD breaking parity towards end
Brazil: World in a currency war
on BNN
Reuters3:49 PM, E.T. September 27, 2010
The world is in an "international currency war" as governments manipulate their currencies to improve their export competitiveness, Brazilian Finance Minister Guido Mantega said Monday.
Mantega's speech to Brazilian industrial leaders included some of the strongest comments to date by any senior government official on the recent bout of currency intervention by countries, including Japan and China.
Brazil's currency, the real, is now the world's most overvalued major currency, according to Goldman Sachs. Near a 10-month high against the dollar, the real continued to rise after Mantega's comment as traders bet the government may be waiting for the outcome of Sunday's presidential election before taking action.
posted by Ed E. Trebor at
10:51 a.m.
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