Brazil's Real Trades At 13-month High Against US Dollar
October 08 2009 - 8:51AM
RTTF2
Extending yesterday's uptrend, the Brazilian currency showed
strength against its US counterpart in early New York trading on
Thursday. The real rose to a 13-month high of 1.742 against the
greenback around 8:45 am ET, compared to 1.749 hit late New York
Wednesday. On the upside, the domestic unit may find target around
the 1.728 level.
In economic news, Brazil's statistical office IBGE announced
that the National Index of Consumer Price Index or IPCA increased
0.24% month-on-month in September, faster than the 0.15% growth in
the previous month. Economists expected an increase of 0.23%.
On an annual basis, the consumer price index rose 4.34% in
September, slower than the 4.36% growth in the previous month.
Economists were looking for an increase of 4.33%.
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