Analysts at Rabobank, see the USD/BRL pair at 3.70 by year-end. The Brazilian real is about to end the week at 3.85, a weekly decline of 0.2%. Key Quotes: “After a re-pricing of domestic (electoral, budgetary) risks in Brazilian assets, the BRL now seems more aligned with global market moves, especially if we take into account its historical high-beta pattern. In a way, this less idiosyncratic BRL sell-off favours interpretations that the Brazilian FX market is more functional at this stage. This certainly helps the Brazilian Central Bank (BCB) keep a more neutral stance, as in recent weeks. After selling USD 43 billion in FX swaps, the monetary authority has been holding its FX swap inventory flat at USD 67.4 billion.” “Yet our baseline scenario – which by hypothesis assumes the approval of reforms in 2019 – has a country risk projection of 180bps at the end of this year, which is consistent with our yearend BRL projection of 3.70.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Crude Oil WTI Technical Analysis: Bull correction might be over FX Street 5 years Analysts at Rabobank, see the USD/BRL pair at 3.70 by year-end. The Brazilian real is about to end the week at 3.85, a weekly decline of 0.2%. Key Quotes: "After a re-pricing of domestic (electoral, budgetary) risks in Brazilian assets, the BRL now seems more aligned with global market moves, especially if we take into account its historical high-beta pattern. In a way, this less idiosyncratic BRL sell-off favours interpretations that the Brazilian FX market is more functional at this stage. This certainly helps the Brazilian Central Bank (BCB) keep a more neutral stance, as in recent weeks.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
