Bad bets

Currency worries in Brazil and Mexico

SÃO PAULO — UNTIL the past fortnight, a crise, as Brazilians call it, had largely bypassed Latin America. No longer. In the week that began on October 6th the Brazilian real and the Mexican peso both plunged sickeningly (see chart), as did stockmarkets. This week saw modest recoveries. But confidence in the region’s new-found stability has taken a knock. Read more