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Brazil Accuses U.S. of Melting Dollar

Submitted by Rudy Martin on Tue, 01/11/2011 - 14:00

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Jan 11, 2011 08:32 am | Rudy Martin

Weekly Update | January 7, 2010

Don't blame it on Rio!

Currency wars took center-stage in Latin America this week as a couple of affected countries unveiled separate plans to put a leash on the rising value of their curren-cies, which has hurt export potential. The move comes in the backdrop of last month’s decision by the United States Federal Reserve to inject $600 billion into the American economy, aimed at boosting demand.

Top performers over the last week were:

YPF Sociedad Anonima (NYSE:YPF) +7.7%

MercadoLibre Inc. (NasdaqNM:MELI) +6.2%

Companhia Siderurgica Nacional S.A. (NYSE:SID) +6.2%

Vivo Participacoes S.A. (NYSE:VIV) +5.5%

Brasil Telecom S.A. (NYSE:BTM) +5.4%

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