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RIO DE JANEIRO, June 25 (Reuters) - The U.S. Federal Reserve is likely to raise interest rates less aggressively than expected and only towards the end of the year, a Brazilian central bank director said on Thursday, forecasting fewer gains for the dollar globally as a result.
Aldo Mendes, the central bank director of monetary policy, said at an event in Sao Paulo that the Brazilian real is also likely to suffer less than originally expected from higher U.S. interest rates. (Reporting by Flavia Bohone, writing by Walter Brandimarte)