Best Forecasters of World’s Worst Currency Predicting More Pain
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Brazil’s real is headed for further declines in the next six months if you believe the currency’s three most accurate forecasters.
Analysts at HSBC Holdings Plc, Nordea Bank AB and Credit Agricole SA, the top three forecasters in the four quarters through June 30 according to data compiled by Bloomberg, say political turmoil over budget cuts, stalled economic growth and the expectation of higher interest rates in the U.S. will lead to a drop of at least 3 percent by year-end.