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Brazil Real Leads Gains as Fed Outlook Overshadows Levy Setback

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Brazil’s real led global currency gains as speculation the Federal Reserve will keep interest rates low overshadowed a setback in Finance Minister Joaquim Levy’s efforts to cut spending.

The real rose 1.5 percent to 2.9942 per U.S. dollar in Sao Paulo, the biggest increase among the 16 major currencies tracked by Bloomberg.