Brazilian Stocks, Currency Rise As Senate Votes To Impeach Rousseff

By Markets MarketWatch Pulse

Brazilian stocks and the Brazilian real rose Wednesday after the country's senate voted to remove President Dilma Rousseff from office, ending a protracted battle for control of the country. After rising earlier in the session, the dollar slipped against the Brazilian real on the news. The greenback was down 0.3% at 3.23 real in recent trade. Meanwhile, Brazilian stocks trimmed an early decline. The iShares MSCI Brazil Capped ETF remained down 1.8% at $33.18. Shares of the ETF traded at $33.78 the day before. Vice President Michel Temer will now finish out the remainder of Rousseff's term, which ends in 2018.

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