Brazilian Real Strengthened by Success of Ultra-Right Candidate
From January to September 2018, the Brazilian real devalued significantly: at the beginning of the year, the dollar fetched 3.2-3.3 real, and most recently – 4.2. However, the other day they held the first round of presidential elections in Brazil and the real began to strengthen. At the same time, Brazilian stock indices started to rise. What does this market action mean and how should investors react?