Brazilian Real Hits New Multi-month High Against Greenback
July 31 2009 - 10:00AM
RTTF2
Against its US counterpart, the Brazilian real traded higher
during New York deals on Friday. At about 2:35 pm ET, the real
climbed to 1.8625 versus the greenback, which may be compared to
yesterday's closing value of 1.8810. This set a new multi-month
high for the Brazilian currency. Currently, the real is trading at
1.8660 versus buck.
The U.S. Commerce Department revealed today that Gross Domestic
Product, a closely-watched measure of broad economic performance
fell at a pace of 1 percent for the second quarter. Economists had
expected GDP to fall at a 1.5 percent pace.
The report released by the Institute for Supply Management -
Chicago said its index of activity in the manufacturing sector rose
to 43.4 in July from 39.9 in June, with a reading below 50
indicating a contraction in the sector. Economists had been
expecting the index to come in at 43.0.
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