Brazilian Real Posts Biggest Gain in Two Months on Optimism

The Brazilian real, a high-yielding emergent market currency, ended this week’s session climbing massively against the U.S. dollar, as renewed optimism among traders attracted foreign investments, pushing the Brazilian currency up.

A report in the U.S. indicating a rise in housing starts for the month of June was the main factor today to boost purchases of high-yield currencies like the Brazilian real and the Australian dollar. The Brazilian real rose 3.7 percent versus the greenback, posting the biggest gain among the 16 most traded currencies this week.

USD/BRL ended the week at 1.9266 from a previous rate of 1.9323.

If you have any questions, comments or opinions regarding the Brazilian Real,
feel free to post them using the commentary form below.