Brazil's real firms as Emerging Markets stocks remain flat

Brazil's real firmed agains the US dollar as the Senate voted to throw out President Dilma Rousseff's trial. Emerging Market stocks slackened as investors wait for the outcome of the ongoing political crisis.

The real gained 0.15 per cent against the dollar while the stock exchange accumulated 2 per cent this week so far on news of the vote.

"The market is really long the real, everyone is expecting the impeachment. But the road to impeachment will be very bumpy and it is a long-term process," said Guillaume Tresca, senior emerging markets strategist at Credit Agricole.


Read more at Reuters.