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USDMXN Remains Above March 2021 Highs


JAPAN FIX - 29/11/21

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Wires and social media reporting that the Brazilian Senate report investigating the gov'ts response to the COVID-19 pandemic has recommended charges be levelled against President Jair Bolsonaro on 9 counts related to the gov'ts response, which has seen the country record the second-highest death toll from COVID-19 worldwide.

  • Bolsonaro and his allies have dismissed the report as politically motivated. The report also recommends charges be brought against three of Bolsonaro's sons and five ministers/ex-ministers.
  • The report and the gov'ts response are likely to only further enflame Brazil's already-febrile political environment. There remain major concerns about the potential actions of the Bolsonaro gov't with relation to the election as opinion polls show the chances of him winning re-election are extremely slim at present.