RIO DE JANEIRO, BRAZIL - The dollar closed above R$5.07 on Monday (2) after yields on U.S. debt abroad rose to the highest level in several years ahead of this week's Federal Reserve (Fed - U.S. central bank) monetary policy meeting.
The Fed is expected to raise key interest rates by 0.5 percentage points at the end of its two-day meeting on Wednesday (4), which would mean a tougher stance on inflation.
The prospect drove up U.S. government bond yields, with the yield on the 10-year Treasury - the global investment benchmark - above 3 . . .