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Brazil's President Rousseff loses crucial impeachment vote in Congress

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Headlines crossing the wires via Reuters noted that the Brazilian President Dilma Rousseff lost an impeachment vote in the lower house of Congress.

    Key Points:

    The Senate votes on it next

    If the Senate confirms the impeachment, Rousseff would be suspended, replaced by Vice President Michel Temer as acting president pending her trial

    Meanwhile, the Brazilian real is seen extending gains versus the US dollar, with USD/BRL now hovering near fresh eight-month lows reached at 3.4567 last week, down -0.50% on the day.
    For more information, read our latest forex news.
     

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