Commodity Selloff and Brazil’s Copom Minutes Lift Dollar, But Downtrend Holds

2026-02-03 - 09:25

Key Points USD/BRL edged higher to R$5.26 as commodities tumbled and geopolitical tensions eased. Investors await the Copom minutes for clues on Brazil’s rate-cut timeline. Charts show a modest bounce within a broader downtrend that remains intact. The dollar opened February on a firmer note, finding support from a sharp selloff in commodities and fading