Monday, November 21, 2005

Brazil CB steps up its intervention

The Brazilian CB announced after the close today that they were going to offer $525million currency contract's tomorrow between 9-10 am. This is in addition to the currency intervention which has been taking place most days at around noon New York time. With year end approaching it could be time for a little unwinding of the long Brazil trade which most market participants have had on all year.

These are the FX TRADING IDEAS for today.



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