The Brazilian currency was one of those which benefited today from a growing optimism in stocks and commodities markets, attracting traders to emergent markets and setting the highest rate for the Brazilian currency versus the greenback since the global slump started last year.
Moody’s Investors Services upgraded their outlook towards Brazil, granting the South American nation with an investment grade level, which helped the already attractive real to extend its gains versus the greenback, setting a 14-month high, but also versus most of the main traded currencies, as optimism towards Brazilian stocks attracted overseas investors to inject money in the country.
USD/BRL traded at 1.8095 as of 22:26 GMT after touching 1.7910 hours earlier, the highest rate in 14 months.
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