The Brazilian real weakened toward 5.43 per US dollar, not far from the one-year high of 5.39 seen on August 12th as investors balanced the currency’s attractive carry trade appeal with rising political. Domestically, focus is on the resumed trial of former President Jair Bolsonaro, with a verdict on his role in the attempted coup expected this week, adding headline risk ahead of election-year budget debates. At the same time, the central bank’s Focus report showed only minor adjustments to exchange-rate forecasts, with end-2025 projections steady near 5.55, limiting expectations of sustained appreciation. Externally, markets are awaiting US inflation data after weak payrolls increased speculation of Fed easing.
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