USD/BRL can hover around 5.30 despite insurrection in Brasilia – Wells Fargo USDBRL Brazil Banks
“While political risk is typically elevated in Brazil and could weigh on local asset prices, we believe Brazil's ‘January 6 moment’ will not have a long-lasting impact on local financial markets nor the economy.”
“We also believe this past weekend's events will not alter the course of Brazilian Central Bank monetary policy, and we continue to believe policymakers will begin an easing cycle in Q3 of this year. In addition, our base case scenario for a mild and modest economic recession by the middle of this year is still intact.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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