Wednesday, July 11, 2007

Brazil's Real Declines as Subprime Rout Increases Investor Risk Aversion

(Bloomberg) -- Brazil's real weakened as losses on
U.S. bonds backed by subprime loans curbed demand for high-yield
securities from developing countries.

The real lost 0.5 percent to 1.9015 per dollar at 9:21 a.m.
New York time, cutting its gains this year to 12.3 percent.


Read more at Bloomberg Currencies News

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