Brazilian Real Recovers on Fed Decision

By Doug Gray, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL - It has been a volatile 2013 so far for Brazil’s currency, and indeed for Latin America’s largest economy as a whole. Last week, however, the susceptibility of the real to U.S fiscal policy was left wide open once more as the Federal Reserve took a surprise move and maintained their monthly stimulus levels of US$85 billion, just as recovery signs had suggested a cut of US$5-10 billion was imminent.

The reflex in Brazil was immediate, the real back to its strongest position since June . . .

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