Brazil’s Real Held Hostage by Reforms With Forecasters Split

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The Brazilian real’s stuck in a rut, and only a drastic change in the outlook for government reform may be able to shake it loose, in either direction.

The currency hasn’t outstripped its 50- and 200-day moving averages for the past month as optimism over yet-to-be-enacted economic reforms has failed to spark a rally amid slumping commodity prices.

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