Bryan Harris in São Paulo and Anna Gross in London AN HOUR AGO
The Brazilian real slumped to a record low against the US dollar on Tuesday after data showed a worsening trade balance and the country’s finance minister appeared to welcome a drop in the currency.
The real has been under pressure since the middle of this year, with a fresh slide over the course of November prompted by general weakness in emerging markets, a series of interest-rate cuts and rising political tensions.
But late on Monday, top policymakers dismissed concerns about the exchange rate. “We have a floating currency, so it floats,” said finance minister Paulo Guedes, in comments that prompted the real to sink further. On Tuesday the country’s central bank intervened in the foreign exchange market for the first time in three months, briefly halting the slide
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