Brazil July current account deficit hits 7-year high
Brazil posted a larger than expected current account deficit of 8.11 billion dollars in July. The shortfall marks a seven year high as trade and services accounts deteriorated.
Brazil posted a current account deficit of $8.11 billion in July, exceeding forecasts and reaching its largest shortfall for the month in seven years. The reading overshot the $6.6 billion deficit projected by economists in a poll, driven by deterioration across external accounts. Wider current account shortfalls can weigh on local currency by increasing net outflows of USD.
