Forex Trading Strategies: Brazilian Real Falls as Central Bank May Intervene to Curb Gains

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Thursday, July 29, 2010

Brazilian Real Falls as Central Bank May Intervene to Curb Gains

The�Brazilian real declined today on�the�speculations that the�central bank may start selling the�currency for�the�dollars for�the�first time in�more than a�year.

The�central bank needs to�curb the�real�s gains and�protect the�nation�s exporters after the�currency appreciated 6.2 percent in�the�last two months and�the�current account deficit grew. The�bank already has intervened previously, but that wasn�t enough to�stop the�currency�s rally.

USD/BRL traded at�1.7685 as�of�8:24 GMT after opening at�1.7665 and�falling as�low as�1.7625.

If you want to�comment on�the�Brazilian real�s recent action or�have any questions regarding this currency, please, feel free to�reply below.

Earlier News About the Brazilian Real:

This entry was posted on Wednesday, July 28th, 2010 at 10:25 am and is filed under Brazilian Real. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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