US Dollar Surges to R$ 5.187 Amid Global Risk Aversion; Copom Minutes Anchor Ibovespa Recovery

The Brazilian Real depreciated 0.89% to R$ 5.187, marking its highest close since late March, driven by global risk aversion and expectations of a prolonged restrictive monetary policy by the US Federal Reserve. The Ibovespa reversed early losses to close 0.52% higher at 171,258 points, buoyed by a hawkish tilt in the Copom minutes which suggested a potential pause in the domestic rate-cut cycle. Global commodity and equity markets faced headwinds, with Brent crude falling 0.93% to $76.80/bbl on geopolitical supply negotiations and the Nasdaq dropping ~2% on technology profit-taking.