Brazil Real Leads Global Gains After Rate Increase, ECB Stimulus
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Brazil’s real led gains among major currencies as the central bank signaled further increases in borrowing costs while euro-area policy makers announced the expansion of stimulus measures.
The real appreciated 1 percent to 2.5746 per dollar at the end of trade in Sao Paulo, the strongest since Dec. 3. The rally was the biggest among 16 major currencies tracked by Bloomberg. The euro traded below 3 reais for the first time since September.