October 8, 2018 / 10:49 AM / a month ago

Goldman Sachs sees Brazilian real racing higher at market open

LONDON, Oct 8 (Reuters) - Investment bank Goldman Sachs said it expected the Brazilian real to race up around 6 percent when the country’s markets open later, following a strong win in the first round of presidential elections for far-right candidate Jair Bolsonaro.

“Given the perception of Bolsonaro as a market-friendly candidate, USD/BRL is likely to move... towards our 6-month forecast of 3.60 upon market open,” Goldman said in an analyst note.

The real was at 3.8406 per dollar at the close on Friday. (Reporting by Marc Jones; editing by Helen Reid)

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