Brazil's Real Has Longest Losing Streak Since 2021 on EM Slide.

(Bloomberg) -- The Brazilian real is set for its longest losing streak in more than two years as concerns about China's economy and US interest rates sour the mood with riskier assets, putting emerging market currencies on the brink of erasing yearly gains. That puts the market in what investors call "backwardation", with spot prices higher than futures even though Brazil has higher rates than the US. [Extracted from the article]