The Brazilian real managed to gain on the US dollar today. That is despite the fact that Brazil’s industrial production continued to decline last month.
Brazil’s industrial output fell 0.3% in July from June. It was the third consecutive monthly decline. The result was a total surprise to economists as they were expecting an increase of 0.5%.
USD/BRL dropped 0.48% to 4.1674 as of 16:24 GMT today.
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