Economics
Vale Sees China Slowdown Blunted by Brazil Real Depreciation
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Vale SA, Brazil’s largest exporter, said further local currency depreciation could counter cost rises and a slowdown in Chinese iron-ore demand as it seeks to regain market share from Rio Tinto Group and BHP Billiton Ltd.
The real, the worst-performing emerging-market currency in the past three months, probably will weaken to about 2.40 from