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Brazil’s Real Rebounded on U.S. Optimism

Posted by pigeon - - 0 comments

The Brazilian real, currency which had its rally halted yesterday as negative reports pushed stocks and commodities down around the world, climbed again today as U.S. employment data came better-than-expected.

The Brazilian currency was one of those who benefited today from a U.S. employment report which indicated less job cuts in the nation for the month of July in comparison with June, renewing optimism and increasing risk appetite among traders. Several currency strategists suggest that the Brazilian real is likely to gain further, remaining the best performing currency this year.

USD/BRL traded at 1.8260 as of 19:18 GMT from a previous rate of 1.8391.

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.

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