Brazilian Real Climbs To 2-week High Against U.S. Dollar
01 Junio 2017 - 12:29AM
RTTF2
The Brazilian Real strengthened against the U.S. dollar in the
early European session on Thursday, after Brazil's central bank
slashed its interest rate further, while hinting that the pace of
easing would moderate at its next meeting.
The monetary policy committee, known as Copom, unanimously
decided to slash its Selic rate by one percentage point to 10.25
percent from 11.25 percent. The rate was lowered by 100 basis
points at its April meeting.
The bank had started easing in October 2016 after inflation
showed signs of easing.
The Brazilian Real advanced to a 2-week high of 3.2245 against
the greenback, up by 1 percent from Wednesday's closing value of
3.2570. The next possible resistance for the Real is seen around
the 3.19 region.
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