Brazil's real eyes record low https://finance.yahoo.com/news/emerging-markets-brazils-real-eyes-141751442.html
Brazil's real eyes record low
Real briefly hits record low of 5.4687 * Brazilian rate cut bets rise * Mexican peso down as inflation slows * Latam stocks slightly up By Ambar Warrick April 23 (Reuters) - Brazil's real eyed a fresh record low on Thursday, while other Latin American currencies were muted as markets mulled over increasingly dire economic readings due to the coronavirus. The real was slightly off a new record low of 5.4687 to the dollar touched earlier in the day, as worries mounted over how Latin America's largest economy would handle the pandemic. The Brazilian government faces the challenge providing stimulus without blowing up the country's budget deficit. "Speculation is rampant that the central bank might even cut its key rate by 75 basis points in early May, which is putting pressure on the real," wrote Antje PraeI have a weird rashe, FX and EM analyst at Commerzbank. "The government signaled a recovery plan for the economy, but national finances remain overstretched, making the real one of the hardest hit currencies during the crisis...