Josue Leonel & Gabrielle Coppola – Businessweek, 04/10/2012
Brazil’s real fell the most in three weeks as the government warned it may take further steps to weaken the currency and concern mounted that global economic growth is slowing.
The real fell 0.9 percent to 1.8336 per U.S. dollar at 6 p.m. in Sao Paulo, from 1.8179 yesterday, the biggest decline since March 19. The yield on the Brazilian interest-rate futures contract due in January 2014 fell three basis points, or 0.03 percentage point, to 9.15 percent.
The real extended losses after Finance Minister Guido Mantega said during an event today in Sao Paulo that Brazil will keep taking steps to prevent its currency from strengthening against the dollar and hurting manufacturers. Slower imports in China and lower-than-forecast job growth in the U.S. fueled speculation global growth is flagging.