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BCB Intervenes By Announcing Spot USD Auction, BRL Trims Losses

BRAZIL
  • BRAZIL CALLS SPOT USD AUCTION (BBG)
  • Despite a positive open the Brazilian Real has spent the majority of the session grinding lower and eroding yesterday's gains. After hovering above 5.70 in USDBRL and up 1% for the day, the BCB has stepped in once again. Similar size move down, currently trading at 5.6850.

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