Brazilian Real At 11-day High Against U.S. Dollar
June 20 2016 - 5:55AM
RTTF2
The Brazilian Real firmed against the U.S. dollar in early New
York trading on Monday, after the Brazilian Finance Minister told
investors that the government's plan to freeze budget spending for
twenty years would remove the uncertainty over the nation's
financial crisis.
"With this kind?…?of tough fiscal policy?…?everyone will be able
to project the numbers," Henrique Meirelles said in an interview
with The Financial Times over the weekend.
The Brazilian Real climbed to 3.3758 against the greenback, its
strongest since June 9. On the upside, 3.35 is likely seen the next
resistance level for the Real. The pair finished last week's deals
at 3.4174.
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