Dollar Soars as Real Sees Largest First-week Slump in Eighteen Years

One month ago, the outlook was different, with projections for the dollar between R$4.20 and R$4.50 throughout this year, but political uncertainty and the pandemic have changed market views.

RIO DE JANEIRO, BRAZIL - The reduction of global uncertainty with Joe Biden's victory in the U.S. elections and the beginning of approval of vaccines against the novel coronavirus led to the dollar losing momentum in the last two months in 2020.

Analysts had noted that the global economy could have entered a new and lasting period of a weaker U.S. currency, benefiting emerging countries like Brazil. But this was not what was observed in Brazil in the first week of the year.

The dollar closed high on Friday, January 8th, and saw its highest weekly gain in . . .

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