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BRL Buoyed As Court Rejects Bolsonaro Party's Election Challenge

BRAZIL
  • The Brazilian Real has opened on a firmer footing on Thursday as Brazil’s electoral court fined President Jair Bolsonaro’s party after it insisted on questioning the result of the runoff election he lost last month.
  • The court’s president, Alexandre de Moraes, on Wednesday ordered the Liberal Party to pay 23 million reais ($4.3 million), saying it was acting in “bad faith” and trying to undermine Brazil’s electronic voting system.
    • Moraes also blocked transfer of public funds to the Liberal Party and sent the case to the supreme court.
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  • The Brazilian Real has opened on a firmer footing on Thursday as Brazil’s electoral court fined President Jair Bolsonaro’s party after it insisted on questioning the result of the runoff election he lost last month.
  • The court’s president, Alexandre de Moraes, on Wednesday ordered the Liberal Party to pay 23 million reais ($4.3 million), saying it was acting in “bad faith” and trying to undermine Brazil’s electronic voting system.
    • Moraes also blocked transfer of public funds to the Liberal Party and sent the case to the supreme court.