Forex News

Several reasons are providing support for the Brazilian currency to extend this week’s gains as risk appetite rose today increasing demand for commodities, injecting money in Latin American stocks, consequently adding confidence towards the real’s outlook.

The Federal Reserve is likely to remain interest rates in the United States at a record low of 0.25 percent tomorrow, fact which is forcing investors to search for higher-yielding opportunities in emergent markets, being Brazil one of the favorite destinations currently among traders, which are influencing positively the rates for the Brazilian currency this Wednesday.

USD/BRL traded at 1.7260 as of 17:12 GMT from an opening rate of 1.7570.

If you want to comment on the Brazilian real’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Brazilian Real:

• Brazilian Real Rebounds on Domestic and Global Optimism (2009-10-30)
• Intervention Fears Set Brazilian Real Down (2009-10-26)
• Brazil Real Rebounds on Optimism (2009-10-22)
• Brazilian Real Declines on Central Bank Desperate Measure (2009-10-21)
• Brazilian Real Extends Gains on Stocks (2009-10-15)

This entry was posted on Wednesday, November 4th, 2009 at 7:20 pm and is filed under Brazilian Real. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.