USD/BRL jumped to record highs

USD/BRL jumped to record highs

What happened?

USD/BRL rose to the record high above 4.63 on Thursday, March 5. So far, the Brazilian real has been the worst performing currency this year.

What is the reason of the move?

Traders sell the BRL as they believe that Brazilian central bank will follow the Federal Reserve and slash interest rates. The nation’s regulator on Tuesday said that it is monitoring the impact of the coronavirus outbreak on financial markets and the wider economy. The next meeting of the Banco Central do Brasil is scheduled on March 18. The local financial market currently prices in a 60% chance of a rate cut.

Brazil last cut the policy rate by 25 basis points on February 5 and suggested that it had ended its record-breaking monetary easing cycle.Yet, now it seems that back then the cetral bank had been too optimistic. 

Looking at the chart

USD/BRL is currently at the uncharted territory: no previous highs may serve as targets. As a result, we can target only some round levels like 4.650 and 4.700. Support is at 4.5225.




Latest news

Bitcoin might fall deeper
Bitcoin might fall deeper

Good morning, our dear traders! Are you ready for the news that is worth following for trading today? Let’s see! Today’s events: 14:00 GMT+2, EUR, ECB President Lagarde Speaks 16:30 GMT+2 CHF, Gov Board Member Maechler Speaks Bitcoin’s…

China Stocks are About to Jump
China Stocks are About to Jump

It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera