Global Pessimism Pulls Down Brazilian Real

The Brazilian currency has been very influenced by international sentiment regarding global economic conditions this year, due to Brazil’s commodity exporter profile, and today, as pessimism rose, the real declined slightly versus most of the 6 main traded currencies.
The Brazilian real has managed to be the best performing currency among emergent markets climbing almost 30 percent this year versus the U.S. dollar and also posting massive gains versus the British pound. Today, as stocks declined and risk aversion rose, emergent markets became less attractive, affecting the real slightly.
USD/BRL traded at 1.7945 as of 21:26 GMT from an opening price of 1.7915 in Sao Paulo today.

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