Brazil Real Rises as Wage Veto Overshadows Emerging-Market Rout

Updated on
  • President Temer vetoed wage increase for some public workers
  • Domestic optimism offsets a drop in crude oil prices

The Slow Unraveling of Brazil, Explained in Two Minutes

Brazil’s real rose as positive sentiment generated by President Michel Temer’s veto of a wage increase for some public workers overcame a rout in emerging-market currencies.

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