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USDBRL Trades Above 5.00, Highest Since June 02

LATAM FX
  • Risk off sentiment across global markets and the associated greenback strength is filtering through to some LatAm currencies at the open with both USDBRL and USDCLP around half a percent higher on Friday.
  • For USDBRL, we have briefly printed back above the psychological 5.00 mark, the highest level for the pair since June 02. The current USDBRL bull cycle remains in play, having recently cleared the 20- and 50-day EMAs. Further out, an extension higher would expose 5.1277, the May 31 high.

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