Brazilian Real Posts Weekly Rebound on Optimism
After several weeks dropping on high risk aversion, the Brazilian real benefited from positive news this week coming from North America and Europe, attracting investors back to emerging markets, allowing more attractive riskier assets in Brazil to force the nation’s currency up in
Despite China’s statement announcing new lending restrictions, risk appetite was positive for emerging markets currencies, as the EU announcde that it will provide help for Greece’s budget deficit crisis and the Federal Reserve will lift stimulus created to rescue the U.S. from last year’s recession, allowing the real to post a weekly advance versus the greenback, the euro and the pound.
USD/BRL ended the week at 1.8505 from 1.8805 on Monday.
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 Benefits from European Optimism (2010-02-09)
- Brazilian Real Posts Weekly Drop on Chinese Demand (2010-01-31)
- Brazil Real Remains Near 2010 Record Low (2010-01-26)
- Brazilian Real Trades at Record Low on Obama's Speech (2010-01-22)
- Brazilian Real Drops Further on Risk Aversion (2010-01-21)