USDBRL Idea/Axe (Martin Zeman, 04 Jun 2018)

Subject: USDBRL Idea/Axe From: Martin Zeman < Date: Mon, 04 Jun 2018 09:24:22 -0400 To: "Paul Barrett ( Cc: Xavier Avila Davide-A Sferrazza <MORWMPRIPAMPRIONWIMPRIMM, Stewart Oldfield Paul, I think this trade makes sense: Ever since we sent the recommendation to buy ly USDBRL riskies back in mid April, they have come a long way. From the low of 2.25 that we saw, they last traded at 3.5 and bid on (this morning). I'm recommending holding that position for now. However, I like fading t