How the Brazilian Real behaves in election years
Gustavo Ribeiro . Aug 25, 2018
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In this week’s issue: The most important facts of the week. How the Brazilian Real behaves in election years. Which groups are voting for which candidates?
The week in review
- Markets. Opinion polls published by Datafolha and Ibope which showed former president Lula increase his lead in the presidential race led investors into a panic. Over the week, the BRL fell almost 5% against the USD (more in the chart of the week). An even worse scenario was only avoided by a statement by the U.S. Federal Reserve, announcing a conservative approach to raise interest rates in the U.S.
- São Paulo. João Doria, who is running for state governor, was found guilty of illegal advertisement practices during his brief tenure as mayor of São Paulo. While the court determined the suspension of his political rights for 4 years, Mr. Doria won’t be excluded from the race, as sentences in Brazil are only carried out after a verdict by a court of appeals. More on Doria
- Labor. A court of appeals ruled that Uber drivers should be considered formal employees – with all applicable rights and