Brazilian Real Declines Further on China’s Industrial Output

The Brazilian real is having its worst week since the beginning of July as pessimistic news rose risk aversion among traders, damping demand for the Brazilian currency high-yielding profile.
Today several reports in China brought equities and commodities markets down as exports and loan conditions deteriorated in the Asian country, raising concerns that one of the key-world economies may face an extended period of recession, affecting emergent market currencies like the South Korean won and the Brazilian real, which is at the lowest level since the beginning of August.
USD/BRL traded at 1.8601 as of 18:01 GMT from a previous rate of 1.8450 yesterday.

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