Brazil's Real Drops to Two-Week Low on Concerns U.S. Rates Won't Fall Soon

(Bloomberg) -- The real fell to an almost two-week
low on speculation the Federal Reserve may keep its benchmark
interest rate unchanged, reducing the allure of riskier,
emerging-markets.

Federal Reserve Bank of Cleveland President Sandra Pianalto
said the central bank ``cannot afford to be complacent'' about
inflation. U.S. labor costs rose 1.8 percent in the first
quarter, more than the 0.6 percent initially estimated, the
Labor Department said today in Washington.


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