Dollar Breaks All-time Record, Closes Above R$5.40

Potential interest rate cuts and negative pricing the day before set the pace of the foreign exchange market.

RIO DE JANEIRO, BRAZIL - The dollar once again hit closing records against the real on Wednesday, April 22nd, after almost three weeks of gains.

The US currency's bullishness was driven by expectations that Brazil would again cut the basic SELIC interest rate and with investors pricing the movement the day before, when the Brazilian market was closed for the holiday and most risky assets depreciated due to greater instability in the oil industry . . .

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