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20000317
Brazil real slips to 1.741, banks cover positions
SAO PAULO: Brazil's real currency weakened a slight 0.2 percent to 1.741 per dollar on Wednesday as banks bought up the US currency to cover their long positions, traders said.
The currency has been trading at nine-month highs as capital inflows linked to bond issues boosted the real.
After firming up a bit on Tuesday, the real dipped again on Wednesday as banks that had bet the real would continue to strengthen tried to cover their positions. -Reuters
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