Real Swings Ease as Rousseff Surprises Barclays: Brazil Credit
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Swings in the Brazilian real are declining to a two-year low ahead of presidential elections as the central bank steps up dollar purchases to offset a surge in investment in the country’s stock and fixed-income markets.
Implied volatility on one-month options for the real versus the dollar, which reflects traders’ expectations for currency fluctuations over the next month, dropped to 10.76 percent from