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Brazil Markets React Favorably to Impeachment Proceedings

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The extremely turbulent day on Wednesday, with Brazil’s Speaker of the Lower House accepting the request for the start of impeachment proceedings against President Dilma Rousseff did not affect significantly the country’s economy, with the foreign exchange rate market and Brazil’s stock exchange reacting very positively.

After surging in 2015 against the Brazilian real, the U.S. dollar registered its steepest devaluation in a month, falling by . . .

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