Brazil’s Real Gains as Weak U.S. Data Damp Fed Increase Outlook
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Brazil’s real climbed from a 12-year low as speculation the Federal Reserve will signal it’s in no hurry to raise borrowing costs buoyed emerging-market assets.
The real appreciated 0.2 percent to 3.2397 per dollar at the end of trade in Sao Paulo after dropping to the weakest intraday level since April 2003. Three-month implied volatility on options for the real, reflecting projected shifts in the exchange rate, was the highest among 16 major currencies.