Brazilian Real At Fresh 1-month High Against Dollar
September 11 2009 - 4:07AM
RTTF2
The Brazilian real rose to a fresh monthly high of 1.8110
against the US dollar during early New York trading on Friday,
compared to 1.813 hit late New York Thursday. A move above the
1.809 resistance level may lead the real to touch its highest in
nearly an year. Currently, the dollar-real pair is quoted at
1.815.
In economic news, Brazil's statistical office IBGE announced
that the gross domestic product or GDP increased 1.9% sequentially
in the second quarter. Economists had expected the GDP to increase
1.4%.
On an annual basis, the GDP fell 1.2% in the second quarter,
compared to the 1.4% decline expected by economists.
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