Brazilian Real Slides Further Against Dollar
August 25 2009 - 11:22AM
RTTF2
The Brazilian currency extended its previous session's downtrend
against the US dollar in New York afternoon deals on Tuesday. The
real dropped to a 6-day low of 1.8590 versus the greenback by about
4:05 pm ET from yesterday's North American session close of 1.8340.
On the downside, 1.88 is seen as the next target level for the
Brazilian currency.
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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