Brazilian Real Slides To Near 4-week Low Against U.S. Dollar
August 29 2016 - 5:48AM
RTTF2
The Brazilian Real lost ground against the U.S. dollar in
European trading on Monday, as emerging-market currencies sank on
hopes for Fed rate hike as early as next month.
Brazil's suspended President Dilma Rousseff is testifying before
the lawmakers to defend allegations of fiscal mismanagement and
corruption in an impeachment process that is widely expected to
oust her from office.
The Brazilian Real declined to 3.2890 against the greenback, its
weakest since August 3. On the downside, 3.4 is likely seen as the
next support level for the Brazilian Real.
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