Dollar Closes at R$4.58, Breaking Yet Another Nominal Record

The trend reflects the prospect that the Central Bank may cut interest rates.

RIO DE JANEIRO, BRAZIL - The dollar closed up 1.54 percent at R$4.58 on Wednesday afternoon, March 4th. This is its new nominal record and the 11th consecutive daily high.

The move reflects the prospect that the Central Bank may cut interest rates, following the Federal Reserve's (US Central Bank) decision that reduced the US rate by 0.5 percentage points on Tuesday. Following the surprise cut, traders raised . . .

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