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BCRA Set to Lift Latest FX Restrictions on Wednesday

ARGENTINA
  • Argentina's central bank make a formal statement to confirm that they are to lift the latest FX restrictions by tomorrow.
  • Argentina headlines come ahead of the formal presentation of economic "shock" therapy measures set to be outlined by Caputo and Milei after the close later today (at 2000GMT/1500ET/5pm local time).
  • The central bank have been heavily restricting FX trade across the first two sessions of this week, only allowing certain trades on a "priority basis" and it's these measures that are likely being referred to as being lifted by tomorrow (notably after the economic reforms are announced).
  • Caputo is expected to detail aggressive state spending cuts as well as potentially tweak the FX regime - with a further devaluation of the ARS expected by many on the sell-side.

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