Brazilian currency hits another record low

BRAZIL - Brazil may have won the World Cup for the fifth time last Sunday but the harsh realities of life return as the country's currency yesterday hit another record low. The governor of Brazil's central bank said that markets were ignoring the country's strong economic fundamentals.

Growing risk aversion towards emerging markets aggravated investor fears of a leftwing victory in October's presidential elections.

The weakness could jeopardise chances of a cut in the prime interest rate from 1