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Brazil Real Rises Most in Emerging Markets as GDP Beats Forecast

Brazil’s real rose the most in emerging markets as Latin America’s biggest economy grew more than forecast in the fourth quarter, adding to the currency’s allure for international investors.

Swap rates fell a day after the central bank signaled increases in borrowing costs are coming to an end. The real extended its gain after U.S. Federal Reserve Chair Janet Yellen repeated assurances that the central bank intends to reduce asset purchases at a measured pace.