Source: Thomson Reuters
- USD/BRL tests new 11-yr high by 2.9204
- Tax/rate hikes could weigh on growth, inflation already on the rise on weak BRL
- Levy trying to control budget, to cap spending at BRL 75b through April
- USD/BRL resistance at 2.9420 Sept 2004 high, light gamma above draws USD higher
- Support at 2.8958 today's low, 2.8327 23.6% Fib of 2.5489-2.9204