One of the Best Forecasters for Brazil's Real Is Bullish as Ever
- Commerzbank’s You-Na Park sees 10% rally by year-end
- Park says ‘no sign’ reform to fail despite chaotic government
The central bank of Brazil's real notes.
Photographer: Adriano Machado/BloombergThis article is for subscribers only.
The political noise that sent the Brazilian currency tumbling past 4 per dollar hasn’t changed You-Na Park’s bullish stance.
The Commerzbank analyst is sticking to her forecast that the real will strengthen to 3.60 per dollar by the end of the year, provided the government can deliver on its flagship pension overhaul bill. The optimism stands out considering the current backdrop, which she laid out in a Tuesday note: A chaotic government, political scandals and dwindling growth forecasts.