Brazil exchange operator BM&FBovespa is considering implementing measures covering the currency derivatives market, The Wall Street Journal reports. The move comes after the Brazilian real reached its strongest level in 12 years against the U.S. dollar. The Brazil exchange operator, along with local banking and clearing house trade groups, is discussing the impact of the measures with the government. The measures will keep off speculative cash from the carry trade, in which investors borrow cheap cash overseas to invest in markets with higher rates of return.

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