The leaders of the BRICS countries - Brazil, Russia, India, China and South Africa - are planning a $100bn (£65bn) fund to protect against financial shocks.
Brazil has raised its benchmark interest rate to 9% from 8.5% in a further attempt to rein in inflation, following the dramatic sell-off in the country's currency.
James Carver, manager of the SWIP Absolute Return Bond fund, is making a call on the Japanese currency strengthening against the euro as money continues flowing into Japan's equity market.
Brazil's elimination of foreign investment taxes has met with a mixed reaction as emerging market nations seek to restore their attractiveness to investors.