Brazil’s Real Gains on Commodity Rally

Brazil’s real posted its longest winning streak in five weeks, swept up in a rally for emerging-market currencies that overshadowed domestic political turmoil. The Ibovespa dropped.

The real advanced 1.1 percent to 3.4894 per dollar Monday in Sao Paulo, rising for the fourth consecutive day. The Ibovespa slipped 0.4 percent after swinging between gains and losses earlier in the day. Mining company Vale SA climbed with commodities, while Kroton Educacional SA fell. The Bloomberg Commodity Index entered a bull market after advancing 1.1 percent, bolstering the outlook for inflows from Brazil’s raw-material exports, and a gauge of 20 emerging-market currencies tracked by Bloomberg climbed.

Read more

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by

Up ↑

%d bloggers like this: