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BRL Leads Gains Post Payrolls Amid Stronger US Indices

LATAM FX
  • LATAM FX REACT: Higher than expected headline prompted the small pop higher in the dollar on the release of the data. Despite this, and potentially aided by the unexpected 0.1ppts rise in the unemployment rate, the greenback has reversed and EMFX benefitting from strong price action in US equity indices.
    • USDMXN briefly back above 20.00 but now approaching levels seen towards the start of the week. Week's low comes in at 19.7520.
    • New marginal high from yesterday in USDBRL at 5.0592 but now retesting 5.00 mark to the downside negating much of yesterday's rally. Strongest performance so far in BRL, up just shy of 1%.

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