Brazil FX flow turns sharply negative in early September, reversing August trend

Brazil recorded a net foreign exchange outflow of US$6.693 billion in the first four days of September, following a negative August flow of US$3.914 billion that ended four consecutive months of positive inflows. The sharp acceleration suggests deteriorating investor sentiment or increased capital repatriation, though the drivers are not specified. This matters as sustained outflows could pressure the BRL and complicate the central bank's monetary policy stance.