Real-denominated debt rates are unlikely to fall until the central bank rates meetings in late January. As a result, you're going to see people selling some of dollars they bought in November and December to bet again on Brazilian debt. |
The market was slow today and a little frozen. |
The numbers favor the view that the U.S. will stop boosting rates. |
The trend today is for some depreciation. Many investors will feel inclined to buy dollars. |
This interest rate cut may create some temporary outflow of dollars. |