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Brazil real drops by the most in 5 years on Trump concerns

The sharp move pushed the real past 3.3 to the U.S. dollar for the first time in two months, triggering stop-loss automatic sales of the Brazilian currency, traders said.

The real slumped as much as 5.7 percent to 3.3902, the weakest since late June.

Traders said they also feared President Michel Temer could face legal action after documents cited in local media showed he received 1 million reais in donations from builder Andrade Gutierrez during the 2014 re-election campaign of ousted President Dilma Rousseff, to whom he was vice president.

The Mexican peso, widely seen as more vulnerable to Trump’s policies, weakened 3.7 percent. (Reporting by Bruno Federowski; Editing by Daniel Flynn)

Categories: Uncategorized

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