TheBrazilian real is getting demolished.
The currency dropped as low as 4.8% at 3.6708 as of 11:14 a.m. ET.
A few minutes later, it recovered some of its losses. It is currently down by 3.8% 3.6381.
This follows news that the Head of Brazil’s lower house calls for new vote on impeachment, according to a Bloomberg report.
As for the rest of the world, here’s the scoreboard:
- TheJapanese yenis weaker by 1.2% at 108.40 per dollar following Japanese Finance Minister Taro Aso latest attack on the stronger yen. Also, for what it’s worth, the minutes from the March BOJ meeting show policymakers had conflicting views on the central bank’s negative interest rate policyThe euro is little changed at 1.1404 despite German factory orders climbing 1.9% in March, above economists’ expectations of a 0.6% increase. In other eurozone news, Greek lawmakers approved “unpopular pension and tax reforms” in the hopes of securing more bailout cash.The Australian dollar continues its slide after the RBA downgraded its inflation outlook last Friday. It’s weaker by 0.7% at .7320. Notably, FX forecasters now think the Australian dollar could trickle down below 70 cents, BI Australia’s Greg McKenna reports.The British pound is little changed at 1.4435 after the Halifax House Price Index showed that home prices fell by 0.8% in April, missing expectations of a 0.4% drop.The South African rand is weaker by 2.0% at 15.1740 after the latest data showed that the country’s unemployment rate ticked up to 26.70% in the first quarter, up from Q4 2015’s reading of 24.50%. Economists were expecting a rise to 25.30%. The dollar index is stronger by 0.2% at 94.11 ahead of a quiet day. The first key data point of the week will be out on Tuesday when JOLTS job openings crosses the wires.