Good morning! We’re covering Brazil’s hectic currency. Black Friday 2019: workers choosing gifts over paying debts. And Bolsonaro accused of “indigenous genocide.” (This newsletter is for platinum subscribers only. Become one now!)
Brazil’s currency drama set to continue
Wednesday market was yet another trading session with the Brazilian Real hitting a new nominal low. The Central Bank was forced to intervene twice, selling U.S. Dollars on the spot currency market. “If [today] we think there are dysfunctional moves, that Brazil’s exchange rate is behaving unlike other countries’ and there are liquidity gaps in the market, we will intervene again just...
