Brazil’s Real Declines as Risk Off Mode Offsets Political News

Brazil’s real declined for the fourth straight session as bearish sentiment on emerging-market currencies overshadowed a ruling that will push forward the investigation into former President Luis Inacio Lula da Silva amid a sprawling corruption scandal.

The real declined 0.3 percent to 3.4932 per dollar as of 12:41 p.m. in Sao Paulo, after climbing as much as 0.7 percent. One-month implied volatility on the real climbed to 20.9 percent, the second-highest for currencies from developing nations.

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