Brazil’s real swung between gains and losses on speculation the central bank will intervene after the currency touched a four-year low as Standard & Poor’s cut the nation’s credit rating outlook to negative.
Brazil’s swap rates climbed as U.S. employment gains prompted traders to step up wagers that the South American country’s central bank will seek bigger increases in borrowing costs as it tries to contain inflation.
A handful of people have shaken off the wet snow and entered the Bilia car dealership in Stockholm. They’re far outnumbered by the gleaming Volvos, Fords and Renaults. They’re not eager to strike a deal.
Brazil’s real fell as concern the global recovery is slowing overshadowed speculation the government may postpone measures to curb the currency’s gain over the past three months after yesterday’s presidential election failed to produce a winner.