Published by Zeb BhamThe US is looking to work with Brazil in order to tackle the undervalued yuan and keep control of forex risk management, reports suggest.US Treasury secretary Tim Geithner said on a trip to Brazil that the two countries' economies are "fundamentally aligned"."We have a common interest with Brazil and other emerging economies that growth is balanced," Mr Geithner said.While Mr Geithner did not explicitly mention China, he noted the effects that having an undervalued currency is having on trade, giving the suggestion that the US and Brazilian governments could be looking to work together to exert more pressure on China to allow the value of the yuan to rise.Reuters reports that Mr Geithner said emerging economies such as Brazil's cannot tackle currency challenges alone and that it is important to work together to resolve such situations.An undervalued yuan helps to lower the price of Chinese goods in export markets, which could negatively affect domestic manufacturers and exporters from other countries.For more information on international payments, visit our Smart FX site