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Notable Move In BRLMXN, Potentially Breaching 3.62 Support

LATAM
  • Notable move in BRLMXN today, currently 1.5% weaker on the session.
  • Mounting pressures on Brazilian lawmakers to deal with the relentless pandemic burden, combined with a marginal hawkish message from Banxico are weighing on the pair.
  • The chart below shows the continuing downtrend in place from June 2020 highs as well as a potential breach of horizontal support around 3.62.


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