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BRAZIL: USDBRL Falls To Session Lows As Guillen Nods To Possible Rate Hike

BRAZIL
  • Remarks from the BCB’s Guillen continue to hit the wires, with the central bank director nodding towards the possibility of rate hikes in the coming meetings. He said that the BCB minutes signalled a gradual start to any rate cycle and that the cycle will be what is needed to hit the CPI goal.
  • USDBRL fell as low as 5.5709, before paring some of the move, currently down ~1% on the day around 5.585. Firm support to watch is at 5.5212, the 50-day EMA, while key support lies at 5.3768, the Aug 19 low.
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