Latest news with #currencymarkets
Bloomberg
3 days ago
- Business
- Bloomberg
Brazil Investigates Alleged Insider Trading Tied to Trump Tariff News
A Supreme Court judge ordered an investigation into potential insider trading in Brazil's currency markets around the announcement of US tariffs on Brazilian goods. Justice Alexandre de Moraes issued the order on Monday in response to a request from Brazil's attorney general based on local media reports of significant foreign exchange transactions shortly before and after the official tariffs announcement on July 9. The attorney general said the currency movements suggested 'possible use of privileged information (insider trading) by individuals or legal entities.'
Yahoo
4 days ago
- Business
- Yahoo
Brazil AG Wants Probe of Possible Insider Trading on US Tariffs
(Bloomberg) -- Brazil's attorney general is seeking a probe into possible insider trading in the country's currency markets around the announcement of US tariffs on Brazilian goods. Why the Federal Reserve's Building Renovation Costs $2.5 Billion Milan Corruption Probe Casts Shadow Over Property Boom Mumbai Facelift Is Inspired by 200-Year-Old New York Blueprint How San Jose's Mayor Is Working to Build an AI Capital The request follows local media reports of significant foreign exchange transactions before and after the official tariffs announcement, 'suggesting possible use of privileged information (insider trading) by individuals or legal entities,' according to a statement from the Brazilian attorney general's office. The office asked Brazil's Supreme Court to include the insider trading allegations as part of its inquiry into former President Jair Bolsonaro's son Eduardo, a lawmaker who has relocated to the US and pressed for action against the top court. That inquiry looks into whether the younger Bolsonaro used international tariffs to try to coerce Brazil's justice system. The request is the latest move in an escalating spat between the Brazilian and American governments. US President Donald Trump announced earlier this month a 50% tariff on imports from Brazil to take effect on Aug. 1. Trump cited the treatment of Jair Bolsonaro and demanded authorities drop charges against him over an alleged coup attempt. Brazilian President Luiz Inacio Lula da Silva responded by saying his country won't be 'tutored,' and would respond to unilateral rate hikes by using Brazil's economic reciprocity law. Brazil's Supreme Court sent police to raid Bolsonaro's home on Friday and outfit him with an ankle monitor. He was banned from using social media and will have to comply with an evening curfew. Justice Alexandre de Moraes cited a flight risk and obstruction of justice as reasons for his measures. Later that same day, US Secretary of State Marco Rubio announced he'd revoked a visa for Moraes, his close relatives and 'allies on the court.' A Rebel Army Is Building a Rare-Earth Empire on China's Border Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All What the Tough Job Market for New College Grads Says About the Economy How Taylor Swift Turned a Glitter Freckle Maker Into a Sensation ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
4 days ago
- Business
- Bloomberg
Brazil AG Wants Probe of Possible Insider Trading on US Tariffs
Brazil's attorney general is seeking a probe into possible insider trading in the country's currency markets around the announcement of US tariffs on Brazilian goods. The request follows local media reports of significant foreign exchange transactions before and after the official tariffs announcement, 'suggesting possible use of privileged information (insider trading) by individuals or legal entities,' according to a statement from the Brazilian attorney general's office.
