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Broader base selling going through

GILTS

DMO consultation outcome (part 3/3)

Extends Gains - USDBRL Rejects 5.50

BRL

BRL extending gains with a sharp rejection above 5.50 in USDBRL. Despite ticking above previous highs at 5.52 during holiday trade where the BMF was shut yesterday, a daily close back below 5.50 has bolstered the move lower technically. First short-term pivotal support in the pair from last week comes in just below here at 5.40.