Where Will Brazil’s Real Rally Go?

The Brazilian real posted another day of heavy gains versus the U.S. dollar indicating that the South American currency is one of the most preferred among risk thirsty traders.
The Brazilian currency reached an eleven-month high against the U.S. dollar as manufacturing in China, Brazil’s most relevant commercial partner, had the highest rise in a year, spurring demand for the real and improving attractiveness in South American stock exchange markets. The real climbed more than 1.5 percent versus the greenback today.
USD/BRL traded at 1.8364 as of 20:40 GMT from 1.8651 last Friday.

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