Brazil's Real Gains From 4-day Low Against US Dollar
August 25 2009 - 5:17PM
RTTF2
The Brazilian real gained ground after slipping to a 4-day low
of 1.8425 against the greenback in early New York trading on
Tuesday. The real rose to 1.832 against the buck by 9:15 am ET,
compared to 1.834 hit late New York Monday. If the Brazilian
currency gains further, resistance is seen around the 1.828
level.
In economic news, Brazil's statistical office IBGE announced
that the national index of consumer price large, IPCA - 15 rose
0.23% month-on-month in August, faster than the 0.22% increase in
the previous month. Economists' were looking for an increase of
0.2%. Year-on-year, the consumer prices increased 4.34% in August,
compared to the 4.47% growth in a year ago.
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