Brazil's real slumped to a new low against the dollar on Tuesday for the th...
FILE PHOTO: People are reflected on the glass as a board showing the Real-U.S. dollar and several foreign currencies exchange rates is seen in Rio de Janeiro, Brazil, May 9, 2016. REUTERS/Ricardo Moraes
The real traded below 4.34 per dollar for the first time ever BRBY, intensifying its sell-off since last week when the central bank signaled its latest rate cut could be its last. Yet the real weakened again, with the general backdrop of record low rates, tepid foreign demand for Brazilian markets and a widening current account deficit eclipsing any support from the central bank seemingly closing the door on further easing.
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