Reuters
EMERGING MARKETS-Brazil’s real surges over 2% on soaring iron ore, Latam stocks jump
* Mexican economy shrinks 0.2% in May from April * Brazil posts narrowest CAD for March in 5 years * Bolsonaro officially launches re-election bid (Updates prices) By Anisha Sircar July 25 (Reuters) – Brazil’s real jumped more than 2% on Monday as iron ore futures soared, while stocks across Latin America rose amid an uptick in risk appetite ahead of an expected U.S. rate hike this week. The currency of Latam’s largest economy vaulted 2.3% to 5.37 as prices of Chinese iron ore futures, one of its top exports, extended a rally on hopes of an economic rebound in China in the third quarter. Also aiding sentiment, Brazil posted a current account deficit of $2.764 billion in March, the lowest shortfall for the period in five years, central bank data showed.
