São Paulo – The US dollar climbed in Brazil for the sixth day straight as it gained 0.46% this Wednesday (22) to hit BRL 4.056, its highest price since February 16, 2016.
Economic analysts believe the financial market is reacting to political uncertainty and indications of a potential Federal Reserve interest rate hike.
Ibovespa, the main index of the São Paulo Stock Exchange (Bovespa), closed up 2.29% to 76,902 points today.
Bovespa was driven by a hike in shares of major companies like Petrobras, up 3.56%; Vale, up 3.03%; Bradesco, up 2.46%; and Itaú, up 2.38%.
Translated by Gabriel Pomerancblum
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