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After Lula’s speech on central bank independence, the dollar jumps, interest rates rise and the stock market falls

The dollar and interest rates rose in the Brazilian market on Friday (Feb. 3), after criticism made by President Luiz Inácio Lula da Silva (PT, progressive-globalist) regarding the independence of the Central Bank and the spending cap.

The dollar closed at R$5.04 on Thursday, the lowest level since August 2022 but then jumped to R$5.15.

The U.S. currency showed strength in the . . .

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