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BRASILIA, March 2 (Reuters) - Brazil’s real has suffered more than other emerging currencies as investors adjust to changing liquidity conditions globally, but some of it has not been justified by economic fundamentals, central bank President Roberto Campos Neto said on Tuesday.
Speaking in an online event hosted by Arko Advice and Empiricus, Campos Neto said the central bank has large currency reserves and will continue to act as it sees fit, adding that it remains focused on using all the tools at its disposal to meet it inflation goals.
Campos Neto was speaking on the day the central bank intervened in the spot foreign exchange market selling $2.1 billion as the real hit a three-month low against the dollar, taking its dollar-selling intervention since last Thursday to over $5 billion.
President Joe Biden is nominating former Federal Reserve economist Nellie Liang as the Treasury's Under Secretary for Domestic Finance, the White House said on Thursday.
The chairman of the Public Utility Commission of Texas huddled with Bank of America utility analysts on Tuesday as pressure mounted on him to reverse about $16 billion in emergency power pricing that would hurt power plant operators.
U.S. private equity firm Blackstone in 2016 unplugged a Texas power plant that it owned from the state's grid in a bet that it could make a fortune as the only American-based generator selling electricity exclusively to Mexico.
President Joe Biden plans to sign the $1.9 trillion coronavirus relief legislation on Thursday, the White House said, a day earlier than originally planned.