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Market Update: Brazilian Real Hovers Near Six-Month High

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Market Update: Brazilian Real Hovers Near Six-Month High

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Market Update: Brazilian Real Hovers Near Six-Month High
The Brazilian real was trading slightly higher at 5 per USD on Wednesday, close to its highest level since mid-December 2020 after the countrys central bank announced its third interest rate hike in 2021. Meanwhile, traders cautiously monitored the Federal Reserve’s all-important monetary policy meeting. The Fed left monetary policy on hold but revised inflation and growth forecasts higher and brought forward the time frame on when it will hike interest rates. [/s2If]
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