Dollar rises by concern about UK and week of Fed

                   

São Paulo - The dollar advanced against the real on Monday following the bad mood on foreign markets at the possibility of the UK to leave the European Union and before this week's meeting of the Federal Reserve, the US central bank.

At 10h21, the dollar advanced 0.95% to 3.4637 reais on sale, after rising in the previous two sessions also pressed for international bad mood.

The US currency reached 3.4667 reais to the maximum trading. The future dollar rose about 1.3%.

"The market is on the defensive before the Fed meeting, even with very little chance of increasing interest, and this package comes the question of the UK," said the operator of Spinelli José Carlos Amado brokerage.

The latest survey of voting intentions showed lead of 10 percentage points of the campaign by the UK out of the free trade bloc.

Although other surveys show tighter contest, operators have shown concern about the economic implications of the vote of 23 June, seeking refuge in safer assets.

The Fed itself is stressing that the referendum will play an important role in your decision about when to return to raise interest rates in the United States.

Investors do not expect that to happen on Wednesday, when the US central bank announces its decision, but preferred to avoid risky bets before the release of the statement and the projections of the Fed, which can bring more clues about the course of monetary policy in largest economies in the world.

Still, the dollar remained well below the actual level of 3.50, with investors betting that the Brazilian Central Bank under Ilan Goldfajn leadership should be less likely to intervene in the market.

Last week, Ilan statements defending the floating exchange rate regime served as the trigger for the fall of the dollar against the real.

Until then, the Central Bank under the baton of Alexander Tombini was acting when the currency fell back below 3.50 reais, action taken by many operators as an attempt to protect Brazilian exports.

"The market has found reason to sell (dollar) last week, but now this has vanished.

Need new fact if it is to extend this fall for these coming days, "said the operator of Intercam Glauber Roman brokerage.

Ilan receive the command of the monetary authority of the hands of Tombini in ceremony this afternoon.

Operators expect his speech in search of new signs on the intervention policy of the Central Bank, as well as when to start cutting the basic interest rate, currently 14.25%.