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Market Update: Brazilian Real Slightly Weaker
The Brazilian real traded slightly lower at 5.1 per USD on Tuesday, amid general dollar strength and caution ahead of a much-anticipated monetary policy decision from the Federal Reserve which could provide clues on future monetary policy. At the same time, the Brazilian central bank is widely expected to raise its benchmark Selic rate by 75 basis points on Wednesday for a third time, to 4.25%, and perhaps drop its commitment to only a “partial” normalization of policy, increasingly perceived as not enough to curb persistent inflationary pressures. [/s2If]
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