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Bolsonaro Says No Need For Tension Regarding Upcoming Protests

BRAZIL
  • The Brazilian Real has been unable to capitalise on dollar weakness over the past two days with slightly more narrow ranges for the currency pair following a strong move from 5.4750 in mid-August.
  • Yesterday, lawmakers only approved an amendment that set dividend tax at 15% which concluded the vote in the lower house. The reform now goes to the Senate.
  • Elsewhere, President Bolsonaro said he will go to the Supreme Court to set a nominal value for the ICMS tax on fuels in the country's states. Gasoline prices could be 1.20 reais cheaper per litre, Bolsonaro said during weekly remarks on social media. (BBG)
  • The President also said there is no need for tension because of protests expected Sept. 7. He added any member of the congress or judiciary is free to protest if they wish.
  • Data today:
    • 1400BST/0900ET: Aug. Markit Brazil PMI Composite, prior 55.2
    • 1400BST/0900ET: Aug. Markit Brazil PMI Services, prior 54.4

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