The electoral scenario and the fall in interest rates constitute risks for the real in 2026, according to Commerzbank | Finance

The environment of controversy surrounding the Brazilian presidency and monetary policy should set the tone for the evolution of the real next year, believes the currency analyst. Michael PfisterSince Commerzbank. “The Brazilian elections certainly pose the biggest risk to (the real’s) appreciation next year. If there are ‘costly election measures,’ which bring fiscal risks back into focus, the real tends to suffer.”