The Brazilian Real slumped on Monday as mounting concerns over this year's presidential election added to global risk aversion, while the Argentine peso extended a recent sell-off that also spread into stock markets in Latin America.
President Donald Trump has threatened to withdraw the US from the World Trade Organization (WTO) if the body fails to change the way it treats America. “If they don't shape up, I would withdraw from the WTO,” Mr. Trump said in an interview with Bloomberg News.
Latin American stocks and currencies mostly fell on Monday as the trade dispute between the United States and other leading economies worsened, but central bank intervention kept the Brazilian real steady.
If the Singapore meeting between Donald Trump and Kim Jong Un had been a zero-sum game, then Trump definitely lost. But maybe it wasn't. Kim got a meeting with Trump on terms of strict equality right down to the number of flags on display, which is a huge boost for his regime's claim to legitimacy.