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BRL Receives Short in the Arm as Bolsonaro Seeks a Truce With Court

BRAZIL
  • President Bolsonaro releases a statement on his conduct with branches of government, looking to end the crisis with the Brazilian top court.
  • Accompanying comments cite Bolsonaro as saying he never intended to attach any specific branch of the government, adding that he's always open to dialogue.
  • The comments elicit a solid response in BRL, with his more compliant tone boosting the currency.
  • USD/BRL hits new session lows of 5.1946 before stabilising, with the rate showing briefly below the Wednesday lows as well as the 50-dma.

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