Brazilian Real Profits on National Stocks Advance
The emerging market Brazilian currency advanced today after carnival’s bank holidays, fueled by a rally in the nation’s stocks supported by better than expected data published today in the U.S., allowing the real the reach high levels versus the pound and the euro.
The Brazilian real ranked among the best performing currencies today after U.S. manufacturing and housing reports boosted appeal for riskier assets in Latin Americans markets, allowing the real to gain versus the U.S. and Canada’s dollar, but to post its sharpest advances versus the euro, as concerns in Greece were again the main topic pushing European markets down.
USD/BRL traded at 1.8350 as of 20:37 GMT from an opening rate of 1.8435.
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Earlier News About the Brazilian Real:
- Brazilian Real Posts Weekly Rebound on Optimism (2010-02-13)
- 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)