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Brazilian Real: Dollar records highest July gain in 6 years (July 30)

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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