Led by Brazil, South Africa EM currencies tumble; MORE disaster awaits and USD looks for a straight bull run this week.
Despite assurances from Brazilian President Michel Temer that the currency real was not in crisis devaluation, it slipped further on Friday as one of the worst performers among emerging markets. In three days it has fallen by 2.4 per cent against the dollar, marking its worst decline in two years. Since the beginning of 2018, it has fallen by more than 17 per cent. In contrast, it fell only 1.99 per cent in all of 2017. On Thursday night, during a broadcast interview, Temer said that Brazil had a reserve of $380 billion which would more than cover any debts. Read More @ http://thebricspost.com/led-by-brazil-south-africa-em-currencies-tumble/#.Wxuhsy17FE5
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