- USD/BRL dropped, spot ref for NDFs 3.1411, 1M NDF 3.1758
- Onshore spot traded 3.1417/3.1686, importer bids at the base
- The FIPE inflation index came in just below forecast at +0.62%
- Big improvement vs last month's +1.1% a boost before BCB
- IP was better than forecast also, -1.2% vs -1.4% forecast, Y/Y -7.6%
- BM&F 1M NDF range 3.1758/3.2108


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