I couldn't agree more... The only thing I heard that was more insane is the the BRL should be in the 3-4 range....the mexico comment? What a joke!a
I can't believe it; not only the current BRL/USD, but how fast the move took place.
What are the real movers behind FX; is it traded the same as equities?
At the end of day it is what it is; that's what I love about trading. Somebody can come up with excuses all they want, but that isn't going to change the reality of their portfolio.
So far; I'm sticking this out....as I can't find anything to justify this move beyond hearsay and fear reaction...