The Brazilian real is now down 9% against the U.S. dollar this quarter, despite the government’s move to repeal a transaction cost on foreign investments. The WisdomTree Brazillian Real Fund (NYSEArca: BZF) is down 7.7% over the last three months. [WisdomTree: Brazil Repeals Financial Transaction Tax — What Could it Mean for Bond Investors?]
Consumer prices jumped 6.7% through mid-June year-over-year, which is now above the central bank’s 6.5% upper target range.
iShares MSCI Brazil Index Fund
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Max Chen contributed to this article.