Brazil Real Leads World Gains as Exporter Inflows Outweigh China
- Currency fell earlier amid drop in Chinese industrial profits
- Traders still monitoring developments on fiscal side
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Brazil’s real led world gains, countering a slide in emerging-market currencies, as traders said a surge in dollar inflows from local exporters overcame signs of a slowdown in the nation’s top trading partner.
The real added 2.2 percent to 3.8592 per dollar Monday, the most among 16 major currencies tracked by Bloomberg, after the market reopened following two days of holidays. It had dropped as much as 0.5 percent as a decline in Chinese industrial company profits spurred a selloff in developing-country assets.