Brazil’s Real Hit One-Week High on Retail Sales Data

The Brazilian currency rebounded against the U.S. dollar after May retail sales were published today, with better than expected figures, indicating that the Brazilian economy is recovering from the worse recession since the real was introduced in 1994.

Both international and national events helped the real to gain today against several currencies, in Brazil, retail sales grew 4 percent in May in the annualized figures, improving traders confidence forcing the national stock exchange up, after a bearish previous week. Several international news since the beginning the week brought risk appetite back in the currency market, and being the real one of the most high-yielding currencies available for trading, foreign investors returned to South America’s biggest economy assets.

USD/BRL fell to 1.9686 as of 23:21 GMT from a previous rate of 1.9813.

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