A combination of factors pushed the foreign exchange market to an important step to dismantle the dollar positions, which started in the morning and gained extra breath on Friday afternoon. The external scenario added less risk aversion to a perspective more optimistic about the domestic electoral scenario, which translated into a 2.15% decline of the US dollar, which ended the day quoted at R $ 4.0646.
Despite the decline of 1.00% in the accumulated index for the week, the US dollar ended August with an 8.23% appreciation against the real, the highest monthly variation since September 2015. The increase was justified by the increase in uncertainties related to the national election scene amid the sounds in US trade and currency crises in Turkey and Argentina. Before the dollar reached its highest nominal value since the Real Plan, on Thursday 30, the Central Bank once again offered exchange swap contracts, which contributed to the decline of the currency in the last two sessions.
The US currency showed a volatile opening, influenced by the formation of the last tax bracket of the month, which marks the contracts due at the beginning of September. Internally, the auction of US $ 2.15 billion in foreign currency contributed to the definition of the fall signal. Externally, it was important to strengthen the Argentine peso against the dollar after the IMF had guaranteed Argentina's support to strengthen the country.
The dismantling of positions gradually took hold in the afternoon, first at the end of the formation period of August Ptax. Later, with the news that the Superior Electoral Tribunal (TSE) had included the registration process of candidate from ex-president Luiz Inacio Lula da Silva, which signaled the definition of the imbroglio of the last weeks. . The daily low was recorded at 3.50 am, at R $ 4.0564 (-2.35%), at the level of the zero position. According to traders, the accelerated fall brought back to the market the exporters who had damaged their dollars in the past few days, and still tried to make a profit with attractive prices.
"The dollar has changed levels in recent days and the Central Bank has announced swap and line auctions, injecting immediate liquidity into the company The least concern about contamination from the Argentine crisis and the expectation of the TSE judgment have taken the scenario completed that led to the dismantling of positions, "said Reginaldo Galhardo, manager foreign currency at Treviso Corretora.
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