INSUBCONTINENT EXCLUSIVE:
dollar spot rate softening, continuing a May increase of 1.12%
Influencing this drop were anticipated U.S
interest rate cuts and electoral results in Mexico.The day saw the dollar decline by 0.30%, with buying rates at 5.233 reais and selling at
Meanwhile, futures on the B3 dipped slightly by 0.09%, closing at 5256 points.The Central Bank of Brazil adeptly managed all 12,000 swap
contracts due in August, ensuring market stability.Commercial rates held steady, buying at 5.233 reais and selling just a hair higher
Tourist rates hovered around 5.252 reais for purchases, escalating to 5.432 reais for sales.Tax rate maneuvers previously nudged the dollar
However, it touched a high of 5.267 reais yesterday.Dollar Dips as Global Events Stir Currency Markets
Analysts had projected a slightly higher PMI of 49.6.This data fed into forecasts that the Federal Reserve might lower rates in 2024,
softening Treasury yields and dollar values globally
In Brazil, the currency hit new lows.Impact of Political Shifts on Currency TrendsAnalysts observed an initial uptick in the dollar, which
reversed post-release U.S
real economy.As the day closed, the dollar continued its downward trend against major currencies, awaiting further economic indicators,
employment report due Friday.This narrative underscores the intricate dance of global finance, where political events and economic policies
across borders weave a complex web affecting currency values.
