Brazilian Real Rebounds on Domestic and Global Optimism

The Brazilian had one of the sharpest climbs versus the U.S. dollar today as both the domestic and international economic scenario set the risk appetite high increasing appeal for emergent market currencies, and setting the greenback down versus most of the 16 main traded currencies.
After a report showing a growth for the past quarter in the world’s wealthiest nations, the United States, risk appetite surged in currency markets favoring the Brazilian real that also gained due to domestic speculations suggesting that the national central bank will not apply further measures to intervene on the real’s rally.
USD/BRL closed today at 1.7275 from an opening rate of 1.7775.

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