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USDBRL - Itau Revises Forecast Lower

BRAZIL

USDBRL approaching Thursday's lows at 5.0156 and lowest levels since June 12 earlier this year. DXY weakness and buoyed risk sentiment are reasserting the upbeat tone for the currency despite the domestic fiscal pressures and weaker activity figures today. 5.00 certainly proved quite pivotal earlier this year and a break could target the June lows of 4.8187.

  • For reference, Itau lowered their USDBRL forecast earlier, from 5.00 to 4.75 for 2021.

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