Brazil's cenbank head says real is floating currency after Trump criticism

SAO PAULO, Dec 2 (Reuters) – The head of Brazil’s central bank, Roberto Campos Neto, said on Monday he is not targeting any currency level, after criticism from U.S. President Donald Trump about the Brazilian real devaluation.

“Our currency is floating and the Central Bank will only intervene when needed,” he said, adding the recent real devaluation was related to investors’ frustration with oil auction results.

Presidential spokesman Otavio Barros said Brazilian authorities will discuss the currency with U.S. authorities. (Reporting by Aluisio Alves in Sao Paulo Writing by Tatiana Bautzer)

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