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The massive number of coronavirus cases in Brazil

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FX_IDC:USDBRL   U.S. Dollar / Brazilian Real
The bullish trend for the US dollar to Brazilian real exchange rate was reignited back in late July and is expected to remain strong even until earlier September. Looking at it, the risk appetite in the market should have already helped the cause of the Brazilian real. However, despite the regenerating risk appetite, it remains vulnerable against most major currencies, not just the US dollar . Perhaps the massive number of coronavirus cases in Brazil has sparked a great concern for the country’s currencies. Not only that, but the Brazilian president himself has been under intense scrutiny for months and is now the center of another controversy. Jair Bolsonaro is facing online criticism after he unsuccessfully tried to snuff out some questions about his family’s financial conditions even going as far as saying that he wants to punch a journalist’s face. The controversy involves the president’s wife, Michelle Bolsonaro, and Fabrício Queiroz over corruption.
𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐫𝐨𝐤𝐞𝐫𝐚𝐠𝐞 - 𝐒𝐭𝐨𝐜𝐤 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐅𝐨𝐫𝐞𝐱 𝐍𝐞𝐰𝐬 & 𝐅𝐨𝐫𝐞𝐱 𝐁𝐫𝐨𝐤𝐞𝐫𝐬
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