The political noise that sent the Brazilian currency tumbling past 4 per dollar hasn’t changed You-Na Park’s bullish stance.
The Commerzbank analyst is sticking to her forecast that the real will strengthen to 3.60 per dollar by the end of the year, provided the government can deliver on its flagship pension overhaul bill. The optimism stands out considering the current backdrop, which she laid out in a Tuesday note: A chaotic government, political scandals and dwindling growth forecasts.
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