The Brazilian Real received considerably after the presidential elections, which have been received through the leftist Lula da Silva. Although USDBRL ought to retrace further, economists at Commerzbank continue to be cautious and assume the pair to maintain above the 5.00 level.
Hope dies last
“It can’t be dominated out that the BRL may want to obtain once more if news, for example, about the appointment of cupboard contributors who are sufficient from the market’s factor of view, supply the FX market renewed hope that the new authorities will no longer put so lots pressure on public finances. Hope dies last, after all.”
“We continue to be cautious and trust that USDBRL have to continue to be above the 5.00 mark for the time being.”
