Brazil Real Leads Global Declines as Rousseff Faces New Dissent
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Brazil’s real led global currency declines on concern disagreements with lawmakers will make it harder for President Dilma Rousseff to rein in deficits and preserve the nation’s investment-grade status.
The currency fell to a 12-year low as Moody’s Investors Service and Fitch Ratings cited challenges the administration is facing early in Rousseff’s second term. Tension mounted after a weekend of street protests as Minister of Education Cid Gomes resigned over a clash with the head of the lower house and Rousseff ruled out a cabinet overhaul to accommodate coalition partners.