The Brazilian real’s volatility climbed to a one-week high as the unemployment rate increased more than forecast, damping prospects as the nation faces its longest recession since the 1930s.
Moody’s Investors Service cited a lack of political consensus on attempts to repair government finances as well as a faltering economy when it cut Brazil to the lowest level of investment grade last week. The jobless rate rose to 7.5 percent in July, the highest level in five years, the national statistics agency reported. That was worst than all of the forecasts of economists surveyed by Bloomberg.
Brazil Energy Insight 
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