Brazil’s Real Leads Drop Among Major Currencies on Fed Outlook

Brazil’s real fell the most among major currencies as hiring by U.S. companies added to concern that the Federal Reserve will damp risk demand by raising interest rates sooner than expected.

The real slid 1.7 percent to 2.7417 per dollar at the close of trade in Sao Paulo, the biggest decrease among 16 major currencies tracked by Bloomberg. Swap rates, a gauge of expectations for changes in borrowing costs, climbed 0.05 percentage point to 12.81 percent on the contract maturing in January 2016.