Brazil Real Leads Global Drops on Concern GDP to Shrink in 2015
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Brazil’s real led global currency declines on concern Latin America’s largest economy will contract this year and amid renewed speculation the Federal Reserve is moving closer to raising borrowing costs.
The currency fell 1 percent to 2.8669 per U.S. dollar at the end of trade in Sao Paulo, the biggest drop among 16 major counterparts tracked by Bloomberg. The real approached a 10-year low of 2.8679 posted Feb. 11.