Brazil’s swap rates dropped for the first time in four days after a report showed industrial confidence declined in June, prompting speculation that lackluster economic growth will help tame inflation.
Gold swung between gains and losses near the lowest price in more than three weeks in London before the U.S. Federal Reserve concludes a policy meeting that may indicate when the central bank will reduce stimulus.
Louis Bacon, Michael Novogratz and other multibillion-dollar hedge-fund managers expect to make more money this year from rising Japanese stocks and a falling yen even after being forced to scale back their bets as markets changed direction, according to clients.
The Canadian dollar declined for a third day versus its U.S. peer amid speculation the Federal Reserve may indicate when it will begin slowing monetary stimulus in the U.S., the nation’s largest trading partner.
Brazil’s central bank President Alexandre Tombini said policy makers are working to reduce the inflationary pressure that may stem from a drop in the real, the worst performing major currency in the past month.
Mexico’s peso fell for a third day as mounting concern that Federal Reserve policy makers will signal this week that they’re preparing to scale back monetary stimulus damps demand for emerging-market assets.