The Brazilian real hit today a 3-week high versus the U.S. dollar as optimism forced up commodities and equities rates, bringing investors towards riskier assets in emergent markets like those of South America.
Several events occurred this week bringing risk appetite back among traders, as car sales in China expanded in August and commodities climbed, favoring Brazil’s currency, since the South American nation has one of the main destinations for its metallic commodities in the most populous country in Asia. The Brazilian real reached an almost one month high versus the greenback, which has been affected by lack of attractiveness for safety.
USD/BRL traded at 1.8248 as of 20:13 GMT from an opening rate of 1.8425 today.
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