Brazil rises on political, austerity measures

Brazilian stocks and currency rose slightly on new political and austerity measures. Plan Minister Romero Juca, a minister accused of obstructing the corruption probe, stepped down from his post.

Interim President Michel Temer also announced new austerity measures aimed at limiting the growth of public spending.

Brazil has been plagued recently with the major corruption scandal has contaminated most in government, including former President Dilma Rousseff, who was ousted herself weeks ago.

Some, however, fear the announced austerity measures are far from guaranteed. "There will be a lot of bickering," said José Carlos Amado, a trader in Sáo Paolo.


Read more at Reuters.