Brazil's real weakened beyond 4.10 per dollar for the first time in eight months on Friday, accelerating its slide this week on growing investor concerns over the economy and the government's ability to get its reform agenda through Congress. The dollar rose more than 1.0% on the day to as high as 4.1033 reais, taking its weekly gains to around 3.5%. That's its biggest weekly rise since August and one of the largest since Brazil emerged from recession in late 2016.
In another report, Latin American currencies fell to near five-month lows on Friday, wiping out their 2019 gains as the protracted trade war between the United States and China took its toll on riskier assets and a biting recession and high inflation hit Argentina's peso. MSCI's index of Latin American currencies was on track to record their fifth week of losses as trade headlines continued to hammer emerging market currencies. Chile's peso fell to its lowest levels this year, tracking a dip in the price of copper, the country's top export.
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