BRL is starting the day down by 0.4%, to 3.165 reflecting USD global strength on the back of concerns over Greece and bets that the US Fed may start hiking by September. Senate approved overnight part of the fiscal adjustment. BCB will offer 8.1K FX Swaps continuing the roll over of the US$9.7bn maturing on the 1st of June of which 80% is expected to be rolled over. Di rates are up following BRL weakness an, as market increases inflation and Selic forecasts. Jan 17 is up 4bps to 13.32% and Jan 21 is up 8bps to 12.48%. The market will look at credit data later on and another measure of consumer confidence, likely to show more weakness as the labour market softens, fiscal belt tightens and inflation remains high. Very limited data in the US, with only Dallas Fed's May services sector survey is due at 14:30GMT.
by worldwide-invest Published on 27-05-2015
Source:http://worldwide-invest.org/content/4243-forex-brazil-flows-brl-suffering-usd-global-strength-di-rates.html
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