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USD/BRL to edge lower towards August 2021 low of 5.11 on failure to hold 5.22 – SocGen

USD/BRL has pulled back after struggling at the upper band of its range since 2020 near 5.75/5.80. Economists at Société Générale note the risk of a dip to the August 2021 low at 5.11 if the 5.22 support is eroded.

5.22 is next support  

“Failure to hold 5.22 can lead the pair lower towards August 2021 low of 5.11.” 

“The 200-DMA at 5.39 is first resistance.”

“Former president Lula called for predictable economic policies, bolstering the appeal of the BRL.”

 

USD/JPY: Laggard BoJ to hit the yen – CIBC

With inflation in Japan showing no signs of approaching the Bank of Japan (BoJ) 2% target, the central bank will remain a policy laggard, weighing on
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EUR/USD: Strong wage inflation print in the US to limit the upside ahead of the weekend

EUR/USD has registered its largest one-day gain in more than a year. Ahead of the January jobs report from the US, the pair is staying relatively qui
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