Brazil launched new front in the currency war

Brazil declares new ‘currency war’
In a presidential decree, the government extended the existing 6 per cent financial transactions tax on overseas loans maturing in up to three years. Previously, the levy was applied only to loans with maturities of under two years.
President Dilma Rousseff later weighed in on the debate, vowing to defend Brazilian industry and stop developed countries’ policies from causing the “cannibalisation” of emerging markets.
Some of the measures (capital controls) are direct assaults on hot money inflows, but money printing is always the last resort to slow an appreciating currency. Got gold?

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