Asian Economic Outlook Forces Brazilian Currency Down

The Brazilian real, one of the most benefited currencies by the evidences of economic recovery this year, traded at this month’s low today as Asian reports indicate that the global slump is still very present.
Brazil’s currency continued the last week’s decline today as the quarterly GDP figures in Japan came worse than expectations and direct investment in China declined in the month of July, reviving concerns regarding the global slump depth and duration, which affected equities markets today, and as risk aversion rises, emergent markets currencies were the biggest losers in the beginning of this week.
USD/BRL traded at 1.8678 as of 21:52 GMT from an opening rate of 1.8510 today.

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