Dollar Down 3.5 Percent in Two Days; Real Appreciation May Continue

An end of the cycle of the real's depreciation against the dollar may depend more on the Brazilians than one supposes.

RIO DE JANEIRO, BRAZIL - The dollar has been dropping sharply since Thursday as a result of the U.S. Federal Reserve president Jerome Powell's announcement that the US central bank's monetary policy will change.

Now the inflation target is no longer fixed, and the goal will be to reach an index that will remain at an average of two percent a year.

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