The continuing rise of the REAL vs the usd is revealing a rift in President Dilma Rousseff's government.
Some officials want more action NOW to curb its growth and protect local industry.
The REAL is trading near a 12-year high...$1.57...after gaining almost 4% this month.
"I don't know what we're waiting for," an official told REUTERS. "Everybody knows the real is going to $1.50 unless we do something to stop it. The consequences of having a supercurrency like that would be terrible."
Even worse for Rousseff, a Morgan Stanley economist predicts the REAL could approach the $1.40 level in the near-term.