Free Trial

SNAPSHOT: USDBRL Hovers Above 5.20 Support, PEN Slides

LATAM
  • 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

MNI/Bloomberg

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.