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© Reuters. The dollar finished Monday's lows and is below 3.90 reais, tracking the outside trajectory during the week of waiting expected by the federal monetary policy decision.
By Claudia Violante
SÃO PAULO (Reuters) Reserve and the day of the new central bank action in the exchange.
The dollar fell 0.26% to 3.88945 reais on the sale, after marking the lowest level of 3 8777 reais and the maximum of 3 9303 reais. The future dollar was down 0.56%.
"Until Wednesday, the market will wait for the Fed," summed up the director of the exchange services of Ourominas, Mauriciano Cavalcante. "Then there may be room for the dollar," he added.
On Wednesday, the US central bank is expected to raise interest rates, but the market wants to know what the statement will say and President Jerome Powell after the members of the monetary authority have recently announced a more positive speech. "dovish", indicating that the country's interest would already be close to the neutral level.
We are worried about the global economic slowdown, especially after the US-China trade war, which has already reached the indicators of the world's second-largest economy.
On Monday, President Donald Trump again criticized the Fed's interest rate action, advocating lower interest rates to further support the US economy.
His speech was reinforced by the White House Trade Speech, Peter Navarro, for whom the rate should not increase because the economy "grows without inflation".
In the expectation of the Fed, the dollar depreciated against the basket of currencies and traded against emerging currencies, down from the Mexican peso and up by compared to the dollar. real, with the lowest volume helping to increase the currency even with the central bank acting on the foreign exchange market.
"The position of British Columbia gives the impression that there is a demand for the dollar in sight, for the exit of resources.The market ends up not succeeding to make a movement of Downward adjustment ", José Carlos, operator of Necton Corretora Beloved.
The Central Bank conducted another online auction – a sale with buyout commitments – Monday after the closing of the US dollar at 3.90 reais on Friday. The outflow of resources is common at the end of the year, when many companies send profits and dividends abroad, and has already led the recipient country to hold four new auctions of the line since the end of the year. end of November – this Monday is the fifth – as well as promoting the turnover of contracts that expire earlier this month.
"I do not reject the country for other auctions, the end of the year continues with an outflow of resources," added Amado.
The speech is corroborated by Cavalcante. "Of course, BC will continue to act if the dollar closes above 3.90 reais," he said.
During this session, the authorities proceeded with another auction to postpone by the end of December traditional currency swaps – equivalent to the future sale of dollars – totaling $ 10.373 billion. He sold this offer to 13.83 thousand contracts, already reaching $ 7.607 billion.
If you keep this daily offer and sell it until Friday, you will have realized the complete roll.
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