Brazilian Real Cut To Underweight

RBC Capital Markets has cut the Brazilian real was cut to “underweight” from “overweight” on concerns the government may impose taxes on short-term capital inflows and possibly mineral exports to stop 0r slow the appreciation of the currency. Many of these rumouirs have been denied by the government in the past few days.

BZF is the ETF that tracks the Brazilian real. Note that we track all currency ETFs here.

BZF does not have liquid options, but EWZ does. EWZ s up +119% so far this year. We track all global ETFs as well. Current strangles: