Brazilian Real Rises as Commodity Rally Offsets Political Woes
- Currencies of raw-material exporting nations advance with oil
- Newspapers say fewer lawmakers support impeaching president
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Brazil’s real rose as a rally in commodity prices offset speculation that support for President Dilma Rousseff’s ouster is diminishing.
The real advanced 1 percent to 3.6418 per dollar Wednesday, after earlier falling as much as 0.8 percent. It has gained 8.8 percent this year amid speculation that a change in government would halt the political paralysis that’s prevented the approval of measures to boost an anemic economy. One-month implied volatility for the currency, a measure of anticipated swings, was the highest in emerging markets.