RIO DE JANEIRO, BRAZIL - (Reuters) Brazil’s central bank took aim at currency speculators on Thursday, but its first market intervention in almost three months appeared to be a reluctant one and the effects may be short-lived, given a dimming economic outlook for 2020.
The central bank waded into the currency derivatives market selling US$1 (R$4.2) billion worth of FX swaps, as the real’s lurch to another record low against the dollar gathered pace and threatened to bring the currency’s year-to-date losses to a whopping 10 percent.
The sale of contracts expiring . . .