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USD/BRL: Still view it a 5.30 by year-end Rabobank

The USD/BRL is falling on Monday after posting last Friday, the best daily close since early August. Analysts at Rabobank start to see the USD/BRL pair at 5.30 by the finish of the entire year.

Key Quotes:

We still believe the Fed will stay hawkish, the USD will stay holding its safe haven status, and domestically the original electoral cycle will weigh on local assets. We still start to see the USDBRL at 5.30 by end-22.

Approaching next, all eyes are on the Copom (Wed). Your choice comes immediately after the FOMCs one, and we foresee the Brazilian monetary authority announcing a hawkish pause (0bp) to the hiking cycle that brought the Selic rate from 2.00% in February 2021 to 13.75% in the August 2022 meeting.

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