BRL depreciation might cause the Brazilian central bank to act – FXMarketAlerts

FXStreet (Barcelona) - The FXMarketAlerts Team, notes that with BRL trading 1.2% lower, and continuing to break lows, the depreciation of the currency might lead to further action by the Brazilian Central Bank.

Key Quotes

“With market even more concerned on the negative fiscal outlook and with weaker global backdrop, BRL continues to break lows and is now trading at 3.1605, down 1.2% in the day and pushing rates even higher.”

“The current depreciation may put the BCB under pressure to alter its intervention program and its monetary policy.”