Skip to content
Subscriber Only

Brazil’s Currency Bulls Now Getting Burned by Political Mess

  • Investors want to see progress in Temer’s ambitious agenda
  • Analysts see rally fading, currency stabalizing by year-end
Updated on

The world’s best currency rally has lost its mojo.

Brazil’s real has been falling in recent weeks, and is now barely hanging on as 2016’s top performer. Bears are reemerging as a fractured Congress, feuding politicians and a stew of corruption dims hopes President Michel Temer will succeed in pushing through reforms to shore up the budget, restore business confidence and pull the country out of its deepest recession in a century.