Brazil Real at 3.00/USD Seen Unsustainable in Longer Run:Haitong
(Bloomberg) -- (Machine translation provided by Google and reviewed by Bloomberg editors.)
- The stronger factor of appreciation of the real is the positive scenario for Brazil, and the BRL could test 3.00/USD level in the very short term, but if that happens, it will not last long, says Flavio Serrano, senior economist at Haitong Bank, in interview by phone.
- In the second half of the year, favorable elements to the real lose strength and currency tends to have a correction
- Growth should be stronger in Brazil and high interest rates in the U.S. should begin at the end of the first semester
- Most doubt is how positive would be the impact on market stemming from the approval of the pension reform
- In the short-term, real continues to be favored by the “important changes in economic policy orientation” and flow
- We perceive flow in fixed income and variable income
- Haitong expects US $ 10 billion in foreign direct investment in January
- Carry is favorable for real to have good performance
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HALISTER1Source: BFW (Bloomberg First Word)
People Flavio Serrano (Haitong Bank SA)
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