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The British pound to Brazilian real exchange rate slows down

Short
FX_IDC:GBPBRL   BRITISH POUND / BRAZILIAN REAL
The British pound to Brazilian real exchange rate slows down this Tuesday but is expected to continue to descend as bearish investors work to recover major losses from the pair’s first-quarter rally. Looking at the fundamentals around the pair, the main factor that’s limiting the gains of the Brazilian real is the political headwinds that can be traced to Brazil’s president, Jair Bolsonaro. The recently reported Supreme Court investigation on Brazil’s far-right president, his family, and his links has caused the controversial resignation of the federal police’s head and Justice Minister Sergio Moro. The unending controversies about the President are weighing on the Brazilian real. On the other hand, the British pound is relatively quiet yesterday as the United Kingdom was off for a holiday. And there also no crucial reports scheduled for the British economy this week, suggesting that the pound would very much rely on other fundamentals.

𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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