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Ministers Agree More Stimulus Needed, Focus Turns to COPOM

BRAZIL

Despite a positive open for the Real, USDBRL reversed throughout yesterday's session and the negative sentiment has been attributed to the headline from economic ministers agreeing extra stimulus is needed. Slight steepening of the local swaps rates curve echoed the currency weakness.


Attention turns to the BCB later and the Copom statement to be released at 2130 GMT/1630 ET. Please find our full preview and sell side summary on the website.

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