Dollar Drops Below R$5.40 as Lula Promises Fiscal Discipline

On June 12, the dollar closed below R$5.40, following its highest point in 18 months. Concerns over Brazil’s fiscal health had driven the increase. However, comments from President Luiz Inácio Lula da Silva and his ministers about fiscal balance reversed the trend. Investors also responded to U.S. inflation data. The Producer Price Index (PPI) for […]