RIO DE JANEIRO, BRAZIL - The dollar jumped more than 2% on Friday (30), virtually erasing in just one session the cumulative decline of the entire week, attracted by a strong movement of defensive buying amid renewed fiscal noise in the country that contributed to the negative impact of the risk climate abroad.
The sell-off that affected the Brazilian real also spread to other markets. The Ibovespa (IBOV) plunged more than 3%, and rates for interest rate futures traded on the B3 (B3SA3) rose more than 30 basis points by afternoon.
The collective market move came amid fears that President . . .
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