John Baeyens

Brazil’s real rose to a four-year high yesterday after central bank President Henrique Meirelles said he has no plans to stem the currency’s 16-month rally against the U.S. dollar. The real rose 0.7 percent to 2.2485 per dollar.

The South African Rand and the Brazilian Real are going up and up… and up. And despite the woes of Brazilian manufacturers, export is going up. Interesting times ahead…

Meanhwile Verhofstadt is trying to do abracadabra and turn a rabit out of a non-existing hat.

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