Brazilian Real: Run-off risks skewed to downside against US Dollar – ING
Chris Turner at ING notes USD/BRL has consolidated around 5.05 after gapping lower to 4.95 on Flavio Bolsonaro’s strong first-round showing. Polls for Sunday’s Lula–Bolsonaro run-off have tightened to roughly 50:50, with Lula’s gains linked to labour law changes.
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