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Market Update: Brazilian Real at 6-Month High Ahead of Copom Meeting
The Brazilian real traded slightly higher at 5 per USD on Wednesday, close to its highest level since mid-December 2020, amid a broadly stable dollar and expectations that the Brazilian central bank will deliver a third straight interest rate hike of 75 basis points later in the day to counter persistent inflationary pressures. Meanwhile, traders cautiously awaited the conclusion of the Federal Reserve’s all-important monetary policy meeting which could provide clues on future monetary policy. [/s2If]
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