— Former Chief FX Strategist of Goldman Sachs & Chief Economist of IFF, Robin Brooks on twitter:
— "Brazil has come out of COVID in far better shape than most emerging markets, with a trade balance that has vaulted into a big surplus (red).
That's the basic reason why our fair value has remained at $/BRL 4.50 for the last two years.
Brazil's Real remains 10 percent undervalued."
Robin Brooks (@RobinBrooksIIF)
