Brazil commonly has a much higher nominal interest rate than the U.S. Yet, some large institutional investors

Question:

Brazil commonly has a much higher nominal interest rate than the U.S. Yet, some large institutional investors do not invest in Brazilian money market securities, even when they believe the securities have no credit (default) risk. Use the international (IFE) to explain why the Brazilian money market securities may not be a good investment for U.S. investors.
Fisher Effect
The Fisher Effect is an economic theory created by economist Irving Fisher that describes the relationship between inflation and both real and nominal interest rates. The Fisher Effect states that the real interest rate equals the nominal interest...