Brazilian oil workers with the FUP oil union have threatened a nationwide strike, in what seems like another step toward nationalized oil in Brazil

The saber rattling is aimed at Brazil’s biggest oil company, Petrobras (NYSE: PBR). While contentious union relations at Petrobras are part and parcel of the company’s operations, what’s different here is that the conversation focuses on the pre-salt layer off Brazil, triggered by last year’s massive Tupi find.

The newest breakthrough revealed these discoveries are likely to be contiguous, falling under a new set of guidelines that precariously lean toward nationalization of Brazilian oil...

Mexican inflation fighting supports the peso… Brazilian real heading the same way… Icelandic krona bounce will be short-lived…

Chris Gaffney takes a look at key currency movements in The Daily Reckoning. In today’s highlights: Oil weighs on the Canadian loonie… Mexican peso soars on rate hikes… Brazilian real still a speculative investment… Aussie dollar down on weak data… Japanese yen carry trade lives on…

Carry trade unwinds for Japanese yen and Swiss franc… Brazilian real boosted by inflation?… Chinese renminbi still on the rise..

Editor’s Note: Yen recovery?… Aussie dollar riding on China’s coat tails… Brazil has it all… British pound back on top…

Aussie dollar pumping iron… Icelandic krona dumps… Brazilian real top of the class… China puts brakes on renminbi…

The Brazilian currency, the real, got another boost from the 50 basis point (0.5%) hike in the central bank’s target interest rate on June 4, making Brazil treasury bonds an attractive component of a multi-currency investment portfolio.

Chuck Butler anticipated the rate move in The Daily Reckoning earlier this week…

Kohn gives the wink and nod… GDP is revised up to .09%… Dollar Bulls dancing in the streets… Oil prices fall…