Fear Of Worker's Party Closing In Election Makes US Dollar Soar

[Judi Lynn]

The currency skyrocketed and closed at R$ 4.19170 after surpassing R$ 4.20 during trading
Sep.14.2018 10:22AM

Tássia Kastner
SÃO PAULO

Two days after Fernando Haddad became the official presidential runner for the Worker's Party (PT), the financial market reacted to the perspective that voters from former president Lula will automatically go to the new candidate by taking the US dollar to R$ 4.20.

The American currency went up on Thursday (13th), reaching R$ 4,1970. Without adjusting for inflation, is the highest closing current exchange since Plano Real. In real terms, however, the exchange is far from the highest ever, which would be around R$ 6.

One thing helped fuel the instability on the trading floor yesterday: new numbers from an opinion poll paid by Central Única dos Trabalhadores (CUT, an association of workers' unions).

The survey showed Haddad leading with 22% of voting intentions, followed by Jair Bolsonaro, with 18%.

More:
https://www1.folha.uol.com.br/internacional/en/business/2018/09/fear-of-workers-party-closing-in-election-makes-us-dollar-soar.shtml

[David__77]

1. I hope that Bolsonaro doesn't make it to runoff.

...

[NorCen_CT]

2. Agreed, I feel badly for what happened with the stabbing, but he would be disastrous for Brazil

His running mate has already said that he could envision a junta taking things over http://bit.ly/2xcLVH8 (HuffPo Brazil article)