Brazil’s Real Closes Marginally Stronger Despite Global Backdrop

BY DIANA KINCH

RIO DE JANEIRO–Brazil’s real strengthened slightly against the U.S. dollar in thin trading late Friday, despite a continuing risk aversion in markets world-wide following China’s announcement of weak trade data.

The Brazilian currency exited active trading at BRL2.0128 to the dollar, stronger than Thursday’s close of BRL2.0162, according to Tullett Prebon via FactSet.

Traders attributed the slight strengthening mainly to the thin trading volumes, which mean each individual transaction can impact the currency’s value.

“[On Friday] we counted just 60 dollar sales in the market,” said Guilherme Salmazzi of Sao Paulo-based brokerage Treviso. “There are periods when there’s …

Article source: http://online.wsj.com/article/SB10000872396390443404004577581631550015006.html

Posted by braziltribune on Aug 10 2012 Filed under Front Page. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry