Commodities Force Brazilian Real Up
After a losing week versus the U.S. dollar and the euro, the Brazilian currency had a rebound today as optimism returned to markets bringing investors to inject capital in emergent economies, providing support for the Brazilian real to advance versus several main traded currencies.
The real finally gained today after 4 consecutive days losing versus the greenback as commodities rebounded today thanks to optimism regarding the economic growth forecast for the biggest economy in Latin America, attracting investors to purchase assets in Brazil and maintaining the real as the best performer among 16 main traded currencies in
USD/BRL traded at 1.7250 as of 17:55 GMT from an opening rate of 1.7310.
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Earlier News About the Brazilian Real:
- Growth Forecast Sets Brazilian Real High (2009-11-16)
- Brazilian Real Ends Losing Streak on Global Optimism (2009-11-14)
- Brazilian Real Down on Intervention Talks (2009-11-12)
- Brazilian Real Rises on G-20 Stimulus (2009-11-09)
- Brazilian Real Gains Sharply on Risk Demand (2009-11-07)