Several Brazilian news sources, including one affiliated with CNN, has reported that Brazil's president Jair Bolsonaro has tested positive for coronavirus. He undertook the probe late on Monday after feeling unwell and reporting high temperature of 38 degrees.
Bolsonaro was previously tested but the cancelation of all public appearances suggests he is ill.
USD/BRL spiked toward 5.40 before slipping back down. Investors prefer the business-friendly leader over several of his left-leaning predecessors. On the other hand, Bolsonaro has severely mishandled the crisis with South America's largest country suffering one of the highest number of cases and deaths from coronavirus in the world. Bolsonaro played down the disease and was seen coughing in public. Calls to impeach him have risen.
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