In Monday’s session, the USD/BRL continued to lose ground and has already tallied a 2.17% decline in September, falling to its lowest point since mid-
On the BRL’s side, it is gaining ground as the Brazilian government has taken up fiscal reforms, which are expected to positively impact the government’s account. On Tuesday, budget data will be reported, with the primary surplus expected to have doubled to BRL 16.8 billion in relation to March’s BRL 7.1 billion. In addition, the Real may also gather momentum on the outcome ofOn the USD side, it is trading soft against its rivals, with its DXY index consolidating.
Investors will also monitor fresh macro forecasts and revised dot plots to continue modelling their expectations towards the upcoming meetings. In that sense, the tone of the Fed will impact the price dynamics of the US Dollar and hence could limit the downside of the pair.on the daily chart indicate that the USD/BRL sellers hold the upper hand.
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