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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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  • Despite the holiday markets, USDBRL has had a fairly volatile session with a greater than 1% trading range. The local currency recovered following some early weakness and currently hovers just above previously tested horizontal support at 5.20 (indicated below). A potential break may target the 2021 lows at 5.1210, with the focus on GDP figures due tomorrow.
  • PEN was the notable underperformer with USDPEN rising to 3.84 as of writing as the June 6th Presidential run-off looms. The pair continues to fill the gap from Thursday's close around 3.85.
    • USDMXN up 0.01% at 19.9407
    • USDBRL down 0.06% at 5.2225
    • USDCLP down 0.2% at 722.18
    • USDCOP up 0.13% at 3711.95
    • USDPEN up 0.68% at 3.8375
    • USDARS up 0.13% at 94.6835
    • Bloomberg Dollar Index down 0.18% at 1116.28
    • USDCNH up 0.21% at 6.3737
    • WTI Crude Oil (front-month) up $0.59 (0.89%) at $66.91


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MNI London Bureau | +44 020 3983 7893 |

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