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USD/BRL soars 3% amid stronger USD and political uncertainty

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The Brazilian real is the worst performer among world majors on Tuesday. USD/BRL is rising more than 3% as the political crisis in Brazil continues.

    A Court ruling could delay the resolution to impeach Dilma Rousseff as the political turmoil continues. Last week the real managed to recover form record lows gains the US dollar despite the political and economic environment.

    On Tuesday USD/BRL started moving with an upside bias and then accelerated. It peaked at 3.884, rising back to the level it had on Wednesday. It was trading at 3.877, up 3.01% for the day.

    Stocks sharply lower, USD up in all Latam

    The Brazilian stock market was falling sharply. The Bovespa index was down 4.33%. Greenback was rising against all Latin-American currencies, among them the real and the Colombian peso were the worst performers.
    For more information, read our latest forex news.
     

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