Brazil Drops as Federal Reserve Caution Offsets State Debt Deal

Updated on
  • Yellen signals renewed doubts on strength of U.S. economy
  • Federal government reaches deal on $126 billion of state debt

The real dropped after Federal Reserve Chair Janet Yellen signaled renewed doubts about the strength of the world’s largest economy, offsetting local optimism that Brazil’s government is making inroads toward cleaning up its fiscal house.

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