Brazilian Real Slides To 5-month Low Against U.S. Dollar
May 18 2017 - 6:16AM
RTTF2
The Brazilian Real weakened against the U.S. dollar in early New
York deals on Thursday amid political crisis in Brazil, with the
President Michel Temer facing calls for impeachment in the wake of
a corruption scandal.
O Globo newspaper reported on Wednesday that Temer was trapped
in a recording of a conversation with the head of meatpacking
company, who makes payments to the jailed politician Eduardo Cunha
to remain silence. Temer asked him to continue with the payments,
for having helped the company deal with a fair trade issue.
The real weakened to a 5-month low of 3.4068 against the
greenback, compared to Wednesday's closing value of 3.1366. The
next possible support for the Brazilian currency is seen around the
3.5 region.
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