Currencies
Brazil Finance Chief Says Real May Be Under ‘Speculative Attack’
- Fiscal fears driving sharp selloff of Brazilian currency
- Government seeking congressional approval of spending cut plan
Fernando Haddad
Photographer: Tuane Fernandes/BloombergThis article is for subscribers only.
Finance Minister Fernando Haddad said the Brazilian real may be facing a “speculative attack” amid a selloff sparked by mounting fiscal concerns.
“There may be speculative attacks, but I don’t want to make a judgment about that, because the Finance Ministry works with fundamentals,” Haddad told reporters in Brasilia on Wednesday, adding that he expects the currency to settle down.