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.

Brazil's Supreme Court Justice Alexandre de Moraes authorized an investigation into the alleged use of privileged information on foreign exchange transactions before the announcement of the 50% U.S. tariff on all Brazilian imports in July,

A sudden drop in the Brazilian real just before the announcement of steep U.S. tariffs has triggered a high-profile investigation in Brazil. Authorities are now trying to find out whether anyone used inside information to profit illegally from the currency markets ahead of the news.

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.