Brazil downgrade threat is a real danger sign


When Standard & Poor’s said on Tuesday it was considering downgrading Brazil’s credit rating by one notch to junk, markets seemed to shrug off the news.

After initially touching a 12-year low, Brazil’s currency, the real, finished virtually flat at R$3.36 against the dollar while the Ibovespa benchmark stock index resumed a rally from earlier in the day, gaining 1.78 per cent to 49,601.60 points.

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