Brazilian Real Spikes Up To 13-month High Against U.S. Dollar
August 10 2016 - 05:58AM
RTTF2
The Brazilian Real climbed against the U.S. dollar in early New
York trading on Wednesday, as the latter weakened across the board
on diminishing hopes for an imminent rate hike by the Federal
Reserve.
Early in the day, the Brazilian Senate voted to take additional
steps in the impeachment process of suspended President Dilma
Rousseff for breaking budget laws.
The Brazilian Real advanced to 3.1131 against the greenback, its
strongest since June 2015. This marks a 1.5 percent increase from
yesterday's closing value of 3.1605. The Brazilian Real may locate
resistance around the 3.00 mark.
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