The Brazillian government is not happy with the US and the Fed. They have openly stated that they will do whatever they have to do, to insure their real does not become overvalued.
International capital has flowed in to the Brazilian economy in spite of higher interest rates. They have imposed a six percent tax on bond inflows in an attempt to curb the influx of capital. This has not worked so far up to this point.
Now with another $600 billion ready to go, Brazil will be doubling it’s team at the G20 summit next week to state their case.
So far, it seems the rest of the world will be siding with them.
Read about it here;