Dollar up 0.89% to R$5.22, Ibovespa gains amid Middle East tensions

Brazilian markets saw the dollar appreciate 0.89% to R$5.22 while the Ibovespa also rose, as investors weighed domestic elections and new attacks in the Strait of Hormuz. The simultaneous rise in both assets suggests a risk-on local bias despite geopolitical tensions, possibly driven by election-related expectations. The impact of the Hormuz attacks on global oil prices and risk sentiment remains uncertain.