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How Much Can Brazil’s Real Strengthen?
From the original
Markets would reward a Bolsonaro win with a substantially stronger Brazilian Real
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How Weak is the Brazilian Real?
ING THINK
Latam FX Talking: Polls tighten in the Brazilian election
With the Brazilian presidential election approaching on October 4, tightening polls indicate a potential shift in favor of Flavio Bolsonaro, which could enhance prospects for the Brazilian real (BRL) as investors lean towards Bolsonaro's fiscal policies. Per the full note from ING, Lula's lead has shrunk significantly, with some polls putting it at just 1-2%. This evolving political landscape aligns with market sentiment that favors the BRL’s recent gains, suggesting it may hold steady due to expectations of a rate cut from BACEN amidst these developments.