The Brazilian real, which started the week with a bearish movement due to rising concerns regarding the global slump depth, recovered its losses on favorable domestic economic reports.The Brazilian currency lost against all major traded currencies in the beginning of the week, as government and news agencies statements suggested that the global recession will still be a part of the world economic scenario for longer than predicted, damping demand for emergent markets assets. In the end of the week, a report in Brazil indicated a growth in industrial production for the fifth month in a row and exports were to a higher-than-expected levels.
USD/BRL was traded at 1.9510 as of 18:57 GMT still posting a slight loss against the dollar as Monday’s rate was of 1.9465.
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