Brazil’s real climbed for a fourth straight day as the central bank’s plan for more intervention bolstering the currency in 2014 overshadowed concern that the U.S. Federal Reserve will begin curtailing stimulus.
The real appreciated 0.2 percent to 2.3228 per U.S. dollar at 9:49 a.m. in Sao Paulo. Swap rates on contracts maturing in January 2015 dropped one basis points, or 0.01 percentage point, to 10.46 percent.
Brazil’s central bank President Alexandre Tombini said on Dec. 10 that details of the currency program for 2014 will be announced this week. In the U.S., the Federal Reserve may start reducing asset purchases at its two-day policy meeting starting today, according to 34 percent of economists surveyed by Bloomberg on Dec. 6.
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