Brazilian Real Leads Gains
Brazil’s real led global gains as speculation that private banks moved to shore up their financial accounts at the end of the quarter to support the local currency. Despite yesterday’s gains, the real has dropped 17% this quarter amid economic uncertainty.
China’s Yuan Posts Biggest Advance
The yuan posted its biggest monthly gain since December 2011 as policymakers stepped up efforts to make it a global currency. The People’s Bank of China Governor has asked the International Monetary Fund to add the yuan to its basket of four reserve currencies.
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