Dollar Slumps as Gold Tops $5,000, Brazil’s Real Jumps and Ibovespa Hits Record

Overview

• Gold set a new high above US$5,000 per ounce and silver also notched records, reflecting a powerful bid for perceived safety as the dollar weakened to four‑month lows.
• Traders discussed the prospect of coordinated U.S.–Japan action to bolster the yen, with the DXY sliding to roughly 96–97 and the yen strengthening sharply.
• U.S. Treasuries rallied with yields lower as markets leaned into 2026 rate‑cut bets, helped by reports that Rick Rieder’s candidacy for Fed chair has gained traction.
• Brazil’s January IPCA‑15 rose 0.20% month‑on‑month and 4.50% year‑on‑year, slightly under forecasts, reinforcing expectations that Copom will hold the Selic at 15% this week and signal scope for a March cut.
• The real strengthened, touching around R$5.26 intraday and closing near R$5.206, while the Ibovespa reached a nominal record as investors awaited Fed and Copom decisions and watched for a possible Trump Fed‑chair announcement.