The Brazilian currency posted another day of gains versus most of the main traded currencies and hit a 9-month high against the greenback as corporate earnings came better than expected combined with a rise in commodity prices.

An extremely positive day for the Brazilian economy defined a bullish pattern for the real today, as commodities rose, the national stock exchange climbed more than 1.5 percent and confidence among traders brought the Brazilian currency to achieve a seventh day of gains versus the greenback, as yield is very appealing in times of optimism. The real also gained versus most of the 16 most traded currencies.

USD/BRL traded at 1.9045 as of 19:16 GMT from Friday’s closing rate of 1.9258.

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