Brazil’s real hits new low, among worst-performing FX in world this year

Brazil’s real slumped to a new low against the dollar on Tuesday for the third day in a row, with the lack of overseas demand for Brazilian assets against a backdrop of historically low interest rates showing no sign of reversing.

The real traded below 4.34 per dollar for the first time ever BRBY, intensifying its sell-off since last week when the central bank signaled its latest rate cut could be its last.

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