Brazil Real Posts Best Streak in a Month on Turnaround Outlook


The real advanced as investors anticipated a turnaround for the Brazilian economy and the Senate prepares to decide on the impeachment of President Dilma Rousseff. The central bank refrained from acting to weaken the currency for a fourth consecutive day.

The currency strengthened 1.1 percent to 3.4885 per dollar at 3:49 p.m. in Sao Paulo, extending this year’s advance to 14 percent and leaving the real higher every day this week for the longest winning streak since March 22. The central bank held off on selling reverse swaps that tend to weaken the currency in the past four days after resuming the sales on March 21. It has since sold $34 billion of the contracts.

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