Today Brazilian Real dropped 3.6% against US dollar. Justice Minister Sergio Moro announced his resignation after a dispute with President Bolsonaro over his decision to fire the head of Brazil's federal police Valeixo. Recent data showed Brazilian business confidence plunged to its lowest level on record in April, as the coronavirus pandemic wrecks havoc on the economy. Expectations that the central bank will lower interest rates in May increased significantly after the president of the central bank Campos Neto said that the scenario analyzed by the Monetary Policy Committee at the last meeting changed.
USDBRL - the Brazilian real hits all time low as it's the worst emerging market currency this year. Source:xStation5
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Coffee price breaks below 200 MA (marked in red). Source: xStation5
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