Brazil Real Gains as Fed Speech Offsets Protests Against Temer
- Fed Governor Brainard expressed prudence on rising rates
- Thousands gathered in Sao Paulo to chant ‘Temer Out’
The Slow Unraveling of Brazil, Explained in Two Minutes
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Brazil’s currency advanced after a U.S. Federal Reserve Governor played down the case for tightening monetary policy, offsetting local political concerns after protests against President Michel Temer.
The real gained 0.8 percent to 3.2476 per dollar Monday in Sao Paulo, after sliding as much as 1 percent earlier on concerns that political disputes could delay efforts of the government to shore up the budget deficit.