Brazil Real Volatility at Four-Month High on Political Outlook
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Volatility in Brazil’s real climbed to a four-month high as domestic political turmoil and a global selloff in emerging-market assets whipsawed traders.
The currency recovered from a 12-year low after falling as much as 1.1 percent earlier. While data released Wednesday showed a bigger-than-forecast increase in manufacturing last month, a majority of judges on an electoral court voted to open hearings into allegations President Dilma Rousseff’s campaign was illegally financed before the case was temporarily suspended.